Forterra Inc to Post FY2019 Earnings of $0.04 Per Share, Oppenheimer Forecasts (FRTA)

Forterra Inc (NASDAQ:FRTA) – Oppenheimer increased their FY2019 earnings per share estimates for Forterra in a report released on Tuesday, November 6th. Oppenheimer analyst I. Zaffino now anticipates that the construction company will post earnings per share of $0.04 for the year, up from their prior estimate of $0.02. Oppenheimer currently has a “Buy” rating and a $13.00 target price on the stock.

A number of other analysts have also issued reports on FRTA. BidaskClub upgraded shares of Forterra from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Citigroup boosted their price target on shares of Forterra from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. Barclays boosted their price target on shares of Forterra from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, August 13th. Finally, Zacks Investment Research upgraded shares of Forterra from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $10.47.

Shares of NASDAQ:FRTA opened at $5.46 on Thursday. The company has a debt-to-equity ratio of 11.59, a quick ratio of 1.14 and a current ratio of 2.15. The stock has a market cap of $400.70 million, a price-to-earnings ratio of -6.91 and a beta of 2.43. Forterra has a 1 year low of $4.39 and a 1 year high of $12.30.

Forterra (NASDAQ:FRTA) last issued its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The business had revenue of $434.51 million for the quarter, compared to analysts’ expectations of $449.72 million. Forterra had a negative return on equity of 23.36% and a net margin of 2.38%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) earnings per share.

A number of large investors have recently modified their holdings of FRTA. Royce & Associates LP grew its position in shares of Forterra by 3.3% during the second quarter. Royce & Associates LP now owns 1,743,115 shares of the construction company’s stock worth $16,961,000 after buying an additional 54,915 shares in the last quarter. BlackRock Inc. grew its position in shares of Forterra by 19.0% during the second quarter. BlackRock Inc. now owns 1,596,301 shares of the construction company’s stock worth $15,531,000 after buying an additional 255,108 shares in the last quarter. First Trust Advisors LP grew its position in shares of Forterra by 2.4% during the second quarter. First Trust Advisors LP now owns 545,139 shares of the construction company’s stock worth $5,304,000 after buying an additional 12,666 shares in the last quarter. Northern Trust Corp grew its position in shares of Forterra by 4.2% during the second quarter. Northern Trust Corp now owns 188,157 shares of the construction company’s stock worth $1,831,000 after buying an additional 7,592 shares in the last quarter. Finally, GSA Capital Partners LLP grew its position in shares of Forterra by 10.5% during the second quarter. GSA Capital Partners LLP now owns 100,987 shares of the construction company’s stock worth $983,000 after buying an additional 9,620 shares in the last quarter.

About Forterra

Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.

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Earnings History and Estimates for Forterra (NASDAQ:FRTA)

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