Forterra (LON:FORT) Announces Quarterly Earnings Results

Key Points

• Forterra reported a quarterly earnings per share (EPS) of GBX 5.80 ($0.08), with a net margin of 2.46% and a return on equity of 3.76%.
• Shares of Forterra rose by 11.3% on the day of the report, with the stock trading at GBX 204.50 ($2.73).
• The company is a leading UK manufacturer of clay and concrete building products, primarily focused on the new build housing market.

Forterra (LON:FORT - Get Free Report) posted its earnings results on Tuesday. The company reported GBX 5.80 ($0.08) EPS for the quarter, Digital Look Earnings reports. Forterra had a net margin of 2.46% and a return on equity of 3.76%.

Forterra Trading Down 1.9%

Forterra stock traded down GBX 3.90 ($0.05) during mid-day trading on Friday, hitting GBX 197.60 ($2.62). 22,065,154 shares of the stock were exchanged, compared to its average volume of 1,030,974. The company has a quick ratio of 0.82, a current ratio of 1.79 and a debt-to-equity ratio of 59.58. Forterra has a 12 month low of GBX 150 ($1.99) and a 12 month high of GBX 215 ($2.85). The firm's fifty day simple moving average is GBX 194.87 and its two-hundred day simple moving average is GBX 177.55. The stock has a market capitalization of £405.83 million, a price-to-earnings ratio of 51.51, a PEG ratio of 0.30 and a beta of 1.25.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup increased their target price on shares of Forterra from GBX 176 ($2.34) to GBX 210 ($2.79) and gave the stock a "neutral" rating in a report on Wednesday. Peel Hunt reiterated an "add" rating and issued a GBX 190 ($2.52) price objective on shares of Forterra in a report on Tuesday. Royal Bank Of Canada raised their price objective on shares of Forterra from GBX 220 ($2.92) to GBX 250 ($3.32) and gave the company an "outperform" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 320 ($4.25) price objective on shares of Forterra in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Forterra has an average rating of "Moderate Buy" and a consensus price target of GBX 228 ($3.03).

Forterra Company Profile

Forterra is a leading UK manufacturer of essential clay and concrete building products, with a unique combination of strong market positions in clay bricks, concrete blocks and precast concrete flooring. Our heritage dates back many decades and the durability, longevity and inherent sustainability of our products is evident in the construction of buildings that last for generations; wherever you are in Britain, you won't be far from a building with a Forterra product within its fabric. Our clay brick business combines our extensive secure mineral reserves with modern and efficient high-volume manufacturing processes to produce large quantities of extruded and soft mud bricks, primarily for the new build housing market.