Ferguson (NASDAQ:FERG) Issues Earnings Results, Beats Estimates By $0.12 EPS

Ferguson (NASDAQ:FERG) issued its quarterly earnings results on Tuesday. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12, Briefing.com reports. The company had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. Ferguson’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.77 earnings per share.

Ferguson Stock Up 0.9 %

Shares of FERG stock traded up $1.78 on Thursday, reaching $207.30. 688,274 shares of the company were exchanged, compared to its average volume of 1,176,620. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The company has a 50-day moving average of $204.35 and a 200-day moving average of $206.95. The company has a market cap of $41.86 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 6.13 and a beta of 1.21. Ferguson has a one year low of $147.62 and a one year high of $225.63.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, September 27th. Ferguson’s payout ratio is 34.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company lowered their price target on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada boosted their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group increased their price objective on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group lifted their target price on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.57.

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

About Ferguson

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.