Fortrea (NASDAQ:FTRE) Posts Earnings Results, Beats Expectations By $0.09 EPS

Fortrea (NASDAQ:FTRE) posted its quarterly earnings results on Monday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.09, Zacks reports. Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. The firm had revenue of $651.30 million for the quarter, compared to analyst estimates of $609.63 million. Fortrea updated its FY 2025 guidance to EPS.

Fortrea Stock Down 13.6%

Shares of FTRE traded down $0.84 during trading hours on Monday, hitting $5.32. The company had a trading volume of 2,088,251 shares, compared to its average volume of 1,699,580. The company’s fifty day moving average price is $7.22 and its two-hundred day moving average price is $14.32. Fortrea has a one year low of $4.77 and a one year high of $29.32. The company has a market capitalization of $481.22 million, a PE ratio of -1.55, a price-to-earnings-growth ratio of 1.78 and a beta of 2.15. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74.

Wall Street Analyst Weigh In

A number of research firms have commented on FTRE. Evercore ISI reduced their price objective on shares of Fortrea from $20.00 to $15.00 and set an “in-line” rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group cut their price objective on shares of Fortrea from $22.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Mizuho dropped their target price on shares of Fortrea from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Barclays restated an “underweight” rating and issued a $6.00 price target (down from $12.00) on shares of Fortrea in a research note on Thursday, April 10th. Finally, Robert W. Baird set a $12.00 price objective on shares of Fortrea in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Fortrea has a consensus rating of “Hold” and a consensus price target of $15.82.

About Fortrea

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.