Fortrea (FTRE) to Release Quarterly Earnings on Monday

Fortrea (NASDAQ:FTRE) is expected to post its quarterly earnings results before the market opens on Monday, March 3rd. Analysts expect Fortrea to post earnings of $0.36 per share and revenue of $703.22 million for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Fortrea Stock Down 1.4 %

Fortrea stock opened at $13.85 on Friday. Fortrea has a one year low of $13.48 and a one year high of $41.02. The stock has a fifty day moving average of $17.09 and a 200 day moving average of $19.26. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $1.24 billion, a PE ratio of -4.05, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20.

Insiders Place Their Bets

In related news, CEO Thomas Pike sold 11,268 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $18.04, for a total value of $203,274.72. Following the transaction, the chief executive officer now directly owns 159,868 shares of the company’s stock, valued at approximately $2,884,018.72. The trade was a 6.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 12,386 shares of company stock worth $219,751. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

FTRE has been the subject of several research reports. Baird R W lowered shares of Fortrea from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 6th. Robert W. Baird cut shares of 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. Citigroup cut shares of Fortrea from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $30.00 to $23.00 in a research note on Wednesday, December 11th. Barclays upped their price objective on Fortrea from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, William Blair reaffirmed a “market perform” rating on shares of Fortrea in a report on Friday, November 8th. One analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Fortrea presently has an average rating of “Hold” and a consensus price target of $23.30.

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.