Ferguson (NASDAQ:FERG) Releases Quarterly Earnings Results, Beats Expectations By $0.44 EPS

Ferguson (NASDAQ:FERG - Get Free Report) released its earnings results on Tuesday. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.44, RTT News reports. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same quarter in the prior year, the firm posted $2.32 EPS. The company's revenue for the quarter was up 4.3% on a year-over-year basis.

Ferguson Stock Up 2.3%

Shares of NASDAQ:FERG traded up $4.92 on Wednesday, reaching $216.28. The company had a trading volume of 2,753,537 shares, compared to its average volume of 1,643,191. The stock has a market capitalization of $43.24 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.69 and a beta of 1.14. The stock has a 50-day moving average price of $170.30 and a 200 day moving average price of $177.80. Ferguson has a twelve month low of $146.00 and a twelve month high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, June 20th. Ferguson's payout ratio is 40.84%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FERG shares. Barclays boosted their price objective on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group upped their target price on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Ferguson from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Wells Fargo & Company increased their target price on shares of Ferguson from $190.00 to $230.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Oppenheimer increased their price target on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $215.23.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Caxton Associates LLP acquired a new stake in shares of Ferguson in the first quarter worth $310,000. Focus Partners Wealth raised its holdings in Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock worth $503,000 after acquiring an additional 581 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company's stock worth $2,445,000 after acquiring an additional 2,940 shares during the last quarter. 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.