FY2024 EPS Estimates for Ferguson plc Decreased by Analyst (NASDAQ:FERG)

Ferguson plc (NASDAQ:FERG) – Equities researchers at William Blair reduced their FY2024 earnings per share estimates for shares of Ferguson in a research note issued on Thursday, September 5th. William Blair analyst R. Merkel now forecasts that the company will post earnings of $9.57 per share for the year, down from their previous forecast of $9.68. The consensus estimate for Ferguson’s current full-year earnings is $9.64 per share. William Blair also issued estimates for Ferguson’s Q4 2024 earnings at $2.85 EPS, Q2 2025 earnings at $1.98 EPS, Q3 2025 earnings at $2.60 EPS and FY2025 earnings at $10.65 EPS.

A number of other equities research analysts also recently issued reports on FERG. Royal Bank of Canada cut their target price on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. Jefferies Financial Group increased their price objective on Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays reduced their price objective on Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $230.00.

Ferguson Stock Performance

FERG stock opened at $189.62 on Monday. The firm has a 50 day simple moving average of $203.81 and a 200 day simple moving average of $207.53. Ferguson has a 52 week low of $147.62 and a 52 week high of $225.63. The stock has a market cap of $38.29 billion, a P/E ratio of 20.72, a P/E/G ratio of 5.75 and a beta of 1.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in Ferguson during the fourth quarter worth $2,274,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ferguson during the 4th quarter valued at about $57,000. Charles Schwab Investment Management Inc. raised its stake in shares of Ferguson by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 598,826 shares of the company’s stock valued at $115,615,000 after acquiring an additional 15,003 shares in the last quarter. Principal Securities Inc. acquired a new stake in Ferguson in the 4th quarter worth approximately $891,000. Finally, Teacher Retirement System of Texas boosted its position in Ferguson by 58.4% during the fourth quarter. Teacher Retirement System of Texas now owns 63,959 shares of the company’s stock worth $12,349,000 after purchasing an additional 23,592 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.