Fortrea (FTRE) Expected to Announce Quarterly Earnings on Monday

Fortrea (NASDAQ:FTRE) is expected to be issuing its quarterly earnings data before the market opens on Monday, March 3rd. Analysts expect the company to announce earnings of $0.36 per share and revenue of $703.22 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Fortrea Stock Down 1.4 %

Shares of NASDAQ FTRE opened at $13.85 on Friday. The firm’s fifty day moving average is $17.09 and its 200 day moving average is $19.26. Fortrea has a 52 week low of $13.48 and a 52 week high of $41.02. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -4.05, a PEG ratio of 1.78 and a beta of 1.20.

Analysts Set New Price Targets

FTRE has been the topic of a number of analyst reports. Robert W. Baird cut shares of Fortrea from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $28.00 to $25.00 in a research report on Friday, December 6th. Barclays boosted their price target on Fortrea from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Baird R W cut Fortrea from a “strong-buy” rating to a “hold” rating in a report on Friday, December 6th. Citigroup cut Fortrea from a “buy” rating to a “neutral” rating and reduced their target price for the company from $30.00 to $23.00 in a research note on Wednesday, December 11th. Finally, William Blair reaffirmed a “market perform” rating on shares of Fortrea in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.30.

Insider Buying and Selling at Fortrea

In other Fortrea news, CEO Thomas Pike sold 11,268 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.04, for a total value of $203,274.72. Following the sale, the chief executive officer now owns 159,868 shares in the company, valued at approximately $2,884,018.72. This represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 12,386 shares of company stock valued at $219,751. 0.12% of the stock is currently owned by company insiders.

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.