Ferguson (NYSE:FERG) Shares Gap Up After Earnings Beat

Key Points

• Ferguson plc shares opened at $235.20 after reporting quarterly earnings of $3.48 EPS, significantly surpassing analysts' expectations of $3.00 EPS.
• The company has received multiple analyst ratings updates, with Wall Street Zen and Goldman Sachs upgrading the stock to a "buy" and "strong-buy", respectively.
• Ferguson has a market cap of $45.04 billion and shows positive key financial metrics, including a return on equity of 34.02%.

Shares of Ferguson plc (NYSE:FERG - Get Free Report) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $214.53, but opened at $235.20. Ferguson shares last traded at $230.99, with a volume of 855,122 shares changing hands.

The company reported $3.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.48. Ferguson had a net margin of 5.32% and a return on equity of 34.02%.

Wall Street Analysts Forecast Growth

FERG has been the topic of several recent analyst reports. Wall Street Zen raised shares of Ferguson from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. The Goldman Sachs Group raised shares of Ferguson to a "strong-buy" rating in a research note on Wednesday, June 18th. Berenberg Bank downgraded shares of Ferguson from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Zacks Research raised shares of Ferguson to a "hold" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

Ferguson Stock Performance

The firm has a market cap of $45.04 billion, a P/E ratio of 28.48, a P/E/G ratio of 1.76 and a beta of 1.15. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.64 and a quick ratio of 0.88. The business has a fifty day moving average price of $226.45.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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