Ferguson (NASDAQ:FERG) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Ferguson (NASDAQ:FERG) released its quarterly earnings data on Tuesday. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12, Briefing.com reports. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the prior year, the firm posted $2.77 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis.

Ferguson Stock Performance

FERG stock opened at $211.59 on Thursday. The firm has a market cap of $42.73 billion, a P/E ratio of 22.46, a P/E/G ratio of 6.13 and a beta of 1.21. The stock’s 50 day simple moving average is $204.35 and its 200 day simple moving average is $206.95. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. Ferguson has a 12-month low of $147.62 and a 12-month high of $225.63.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, September 27th. Ferguson’s payout ratio is currently 34.54%.

Wall Street Analyst Weigh In

FERG has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup increased their target price on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group raised their price target on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird boosted their price objective on shares of Ferguson from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their target price on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and a consensus price target of $231.57.

Ferguson announced that its Board of Directors has authorized a share buyback plan on Tuesday, June 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.