Fortrea (NASDAQ:FTRE) Issues Earnings Results, Misses Estimates By $0.18 EPS

Fortrea (NASDAQ:FTRE) issued its quarterly earnings results on Monday. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.18), RTT News reports. Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. The business had revenue of $697.00 million during the quarter, compared to the consensus estimate of $703.22 million. During the same quarter in the previous year, the business posted $0.19 EPS. Fortrea updated its FY 2025 guidance to EPS.

Fortrea Stock Down 25.1 %

Fortrea stock opened at $10.38 on Tuesday. The firm has a 50 day moving average price of $16.81 and a 200-day moving average price of $19.09. Fortrea has a twelve month low of $9.55 and a twelve month high of $41.02. The company has a market capitalization of $931.09 million, a P/E ratio of -3.04, a P/E/G ratio of 1.78 and a beta of 1.20. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.74.

Insider Buying and Selling at Fortrea

In other Fortrea news, CEO Thomas Pike sold 11,268 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $18.04, for a total transaction of $203,274.72. Following the sale, the chief executive officer now owns 159,868 shares of the company’s stock, valued at $2,884,018.72. The trade was a 6.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 12,386 shares of company stock worth $219,751 over the last ninety days. 0.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Fortrea from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Robert W. Baird cut shares of Fortrea from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $28.00 to $25.00 in a research report on Friday, December 6th. Barclays boosted their target price on shares of 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 lowered Fortrea from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Citigroup lowered Fortrea from a “buy” rating to a “neutral” rating and cut their target price for the company from $30.00 to $23.00 in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.30.

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.