Q3 2017 EPS Estimates for Forterra Inc (FRTA) Decreased by Seaport Global...

Q3 2017 EPS Estimates for Forterra Inc (FRTA) Decreased by Seaport Global Securities

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Forterra Inc (NASDAQ:FRTA) – Equities researchers at Seaport Global Securities dropped their Q3 2017 earnings estimates for shares of Forterra in a note issued to investors on Tuesday. Seaport Global Securities analyst R. Cassil now anticipates that the construction company will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.51. Seaport Global Securities has a “Buy” rating and a $23.00 price objective on the stock. Seaport Global Securities also issued estimates for Forterra’s Q3 2018 earnings at $0.54 EPS and Q4 2018 earnings at $0.05 EPS.

Forterra (NASDAQ:FRTA) last posted its quarterly earnings data on Monday, May 15th. The construction company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.24. The business had revenue of $338.30 million for the quarter, compared to the consensus estimate of $340.24 million. ILLEGAL ACTIVITY NOTICE: This report was originally reported by [[site]] and is owned by of [[site]]. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at [[permalink]].

Earnings History and Estimates for Forterra (NASDAQ:FRTA)

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Forterra from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank of Canada lowered Forterra from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $23.00 to $16.00 in a research report on Tuesday. Citigroup Inc lowered Forterra from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $17.00 in a research report on Tuesday. SunTrust Banks, Inc. lowered Forterra from a “buy” rating to a “hold” rating and set a $14.00 target price for the company. in a research report on Tuesday. Finally, Barclays PLC restated an “overweight” rating and set a $18.00 target price (down from $23.00) on shares of Forterra in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Forterra presently has an average rating of “Hold” and a consensus price target of $19.22.

Shares of Forterra (NASDAQ:FRTA) opened at 10.69 on Wednesday. Forterra has a 1-year low of $10.48 and a 1-year high of $22.76. The stock’s market capitalization is $685.64 million. The firm’s 50-day moving average is $18.12 and its 200-day moving average is $18.95.

Institutional investors have recently added to or reduced their stakes in the stock. Barometer Capital Management Inc. acquired a new position in Forterra during the fourth quarter valued at $5,016,000. Hodges Capital Management Inc. acquired a new position in Forterra during the fourth quarter valued at $16,846,000. Rubric Capital Management LP acquired a new position in Forterra during the fourth quarter valued at $4,332,000. State Street Corp acquired a new position in Forterra during the fourth quarter valued at $4,959,000. Finally, Peregrine Asset Advisers Inc. acquired a new position in Forterra during the fourth quarter valued at $676,000. Institutional investors and hedge funds own 3.99% of the company’s stock.

About Forterra

5 Day Chart for NASDAQ:FRTA

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Dan specializes in matters of money management and personal finance and has been published on numerous financial, business, health and wellness and sports websites.

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