Ferguson (NASDAQ:FERG) Issues Earnings Results, Beats Estimates By $0.44 EPS

Ferguson (NASDAQ:FERG - Get Free Report) posted its earnings results on Tuesday. The company reported $2.50 EPS for the quarter, topping the consensus estimate 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%. The business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.32 EPS.

Ferguson Price Performance

Shares of NASDAQ FERG traded down $3.13 during midday trading on Friday, hitting $211.56. The stock had a trading volume of 2,302,613 shares, compared to its average volume of 1,651,695. The company has a market capitalization of $42.30 billion, a PE ratio of 25.40, a P/E/G ratio of 1.69 and a beta of 1.13. The stock has a 50 day simple moving average of $173.52 and a 200-day simple moving average of $178.23. Ferguson has a 1 year low of $146.00 and a 1 year 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be given a $0.83 dividend. The ex-dividend date is Friday, June 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.57%. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

Wall Street Analyst Weigh In

Several research firms recently commented on FERG. Wolfe Research began coverage on Ferguson in a report on Monday, March 17th. They set a "peer perform" rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Ferguson in a report on Tuesday, April 1st. They set a "hold" rating and a $174.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Friday. Citigroup dropped their price objective on Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Finally, Truist Financial reissued a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a report on Wednesday. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and a consensus target price of $215.93.

Hedge Funds Weigh In On Ferguson

Several hedge funds and other institutional investors have recently made changes to their positions in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company's stock worth $2,445,000 after buying an additional 2,940 shares in the last quarter. Focus Partners Wealth lifted its position in Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock worth $503,000 after buying an additional 581 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in Ferguson during the first quarter worth approximately $310,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

About Ferguson

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.