Oppenheimer Holdings Weighs in on Forterra Inc’s Q3 2017 Earnings (FRTA)

Forterra Inc (NASDAQ:FRTA) – Analysts at Oppenheimer Holdings decreased their Q3 2017 earnings estimates for Forterra in a research note issued on Tuesday. Oppenheimer Holdings analyst I. Zaffino now anticipates that the construction company will post earnings per share of ($0.34) for the quarter, down from their prior forecast of $0.02. Oppenheimer Holdings also issued estimates for Forterra’s Q4 2017 earnings at ($0.25) EPS.

A number of other brokerages also recently commented on FRTA. Zacks Investment Research raised shares of Forterra from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $16.00 price objective (down previously from $23.00) on shares of Forterra in a research report on Friday, May 12th. SunTrust Banks, Inc. downgraded shares of Forterra from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research report on Tuesday, May 16th. Citigroup Inc. downgraded shares of Forterra from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $17.00 in a research report on Tuesday, May 16th. Finally, Barclays PLC reissued an “overweight” rating and issued a $18.00 price objective (down previously from $23.00) on shares of Forterra in a research report on Wednesday, May 17th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.56.

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Forterra (NASDAQ FRTA) opened at 3.32 on Thursday. Forterra has a 52-week low of $3.19 and a 52-week high of $22.76. The firm’s market cap is $213.15 million. The firm’s 50-day moving average is $6.71 and its 200-day moving average is $12.63.

Forterra (NASDAQ:FRTA) last released its earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.11. The firm had revenue of $436.69 million for the quarter, compared to analyst estimates of $449.68 million. Forterra had a negative return on equity of 45.03% and a negative net margin of 4.72%.

In other news, CFO William Matthew Brown acquired 22,200 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $4.80 per share, with a total value of $106,560.00. Following the transaction, the chief financial officer now directly owns 47,501 shares in the company, valued at approximately $228,004.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Agricole S A bought a new stake in Forterra during the first quarter worth about $139,000. American International Group Inc. bought a new stake in Forterra during the first quarter worth about $217,000. Stifel Financial Corp boosted its stake in Forterra by 12.8% in the first quarter. Stifel Financial Corp now owns 91,124 shares of the construction company’s stock worth $1,777,000 after buying an additional 10,343 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Forterra during the first quarter worth about $263,000. Finally, 1st Global Advisors Inc. boosted its stake in Forterra by 4.2% in the first quarter. 1st Global Advisors Inc. now owns 14,003 shares of the construction company’s stock worth $273,000 after buying an additional 565 shares in the last quarter.

Forterra Company Profile

Earnings History and Estimates for Forterra (NASDAQ:FRTA)

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