Fortrea (NASDAQ:FTRE) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Fortrea (NASDAQ:FTRE) posted its quarterly earnings data on Monday. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.18), RTT News reports. Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. During the same period last year, the firm posted $0.19 EPS. Fortrea updated its FY 2025 guidance to EPS.

Fortrea Trading Down 1.4 %

Shares of FTRE opened at $13.85 on Monday. The stock’s 50-day moving average is $16.98 and its two-hundred day moving average is $19.17. The stock has a market cap of $1.24 billion, a PE ratio of -4.05, a P/E/G ratio of 1.78 and a beta of 1.20. Fortrea has a 12 month low of $13.48 and a 12 month high of $41.02. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.18 and a quick ratio of 1.18.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FTRE shares. Citigroup cut Fortrea from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $23.00 in a report on Wednesday, December 11th. TD Cowen raised their price objective on Fortrea from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, November 11th. William Blair reiterated a “market perform” rating on shares of Fortrea in a report on Friday, November 8th. Robert W. Baird cut Fortrea from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $28.00 to $25.00 in a report on Friday, December 6th. Finally, Barclays lifted their target price on Fortrea from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, Fortrea presently has a consensus rating of “Hold” and an average price target of $23.30.

Insiders Place Their Bets

In other Fortrea news, CEO Thomas Pike sold 11,268 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $18.04, for a total transaction of $203,274.72. Following the transaction, the chief executive officer now owns 159,868 shares in the company, valued at $2,884,018.72. The trade was a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 12,386 shares of company stock worth $219,751 over the last quarter. 0.12% of the stock is owned by corporate insiders.

About Fortrea

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.