Fortrea (NASDAQ:FTRE – Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10), Briefing.com reports. Fortrea had a negative net margin of 4.11% and a positive return on equity of 4.76%. The company had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $689.08 million. During the same quarter last year, the business posted $0.52 EPS. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. Fortrea updated its FY 2024 guidance to EPS.
Fortrea Trading Up 0.8 %
Fortrea stock traded up $0.17 during trading hours on Wednesday, reaching $22.39. The stock had a trading volume of 64,936 shares, compared to its average volume of 1,190,064. The company has a fifty day simple moving average of $24.94 and a 200-day simple moving average of $31.24. Fortrea has a 52 week low of $18.07 and a 52 week high of $41.02. The stock has a market cap of $2.00 billion and a PE ratio of -15.99. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.47 and a quick ratio of 1.47.
Insider Activity
In other Fortrea news, CEO Thomas Pike bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $24.81 per share, with a total value of $248,100.00. Following the completion of the purchase, the chief executive officer now directly owns 57,827 shares of the company’s stock, valued at $1,434,687.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fortrea news, CEO Thomas Pike purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price of $24.81 per share, with a total value of $248,100.00. Following the completion of the purchase, the chief executive officer now directly owns 57,827 shares of the company’s stock, valued at approximately $1,434,687.87. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel James S. Hanson purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of $25.30 per share, for a total transaction of $50,600.00. Following the acquisition, the general counsel now owns 7,475 shares of the company’s stock, valued at $189,117.50. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Fortrea
Fortrea Company Profile
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.
Featured Articles
- Five stocks we like better than Fortrea
- Trading Halts Explained
- Microsoft Stock: Is Now The Time To Be Greedy?
- What is Insider Trading? What You Can Learn from Insider Trading
- How to Invest in Mutual Funds
- How to Calculate Options Profits
- Chipotle Mexican Grill: Take a Bite of This Smoking Hot Deal
Receive News & Ratings for Fortrea Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortrea and related companies with MarketBeat.com's FREE daily email newsletter.