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

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

Ferguson Stock Performance

Ferguson stock traded up $1.78 during trading on Thursday, hitting $207.30. The stock had a trading volume of 688,274 shares, compared to its average volume of 1,176,620. The stock’s 50 day moving average is $204.35 and its two-hundred day moving average is $206.95. Ferguson has a 1 year low of $147.62 and a 1 year high of $225.63. The stock has a market cap of $41.86 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

Ferguson Announces Dividend

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

Ferguson announced that its board has approved a share repurchase program on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FERG has been the topic of several analyst reports. Robert W. Baird lifted their target price on Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays upped their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada raised their price target on shares of Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group upped 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 report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.57.

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.