William Blair Has Optimistic View of Fortrea FY2025 Earnings

Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) - Research analysts at William Blair lifted their FY2025 EPS estimates for Fortrea in a research note issued on Thursday, August 7th. William Blair analyst M. Smock now anticipates that the company will post earnings of $0.57 per share for the year, up from their previous forecast of $0.46. The consensus estimate for Fortrea's current full-year earnings is $0.51 per share. William Blair also issued estimates for Fortrea's FY2026 earnings at $0.81 EPS.

Fortrea (NASDAQ:FTRE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. Fortrea had a negative net margin of 37.57% and a positive return on equity of 5.25%. The business had revenue of $710.30 million during the quarter, compared to the consensus estimate of $631.61 million.

A number of other research firms also recently weighed in on FTRE. Truist Financial began coverage on shares of Fortrea in a research note on Friday, May 2nd. They issued a "hold" rating and a $7.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of Fortrea from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. Citigroup reiterated a "neutral" rating on shares of Fortrea in a report on Thursday, May 22nd. Baird R W upgraded shares of Fortrea from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, Mizuho lowered their price target on shares of Fortrea from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Fortrea currently has a consensus rating of "Hold" and a consensus target price of $13.30.

Fortrea Price Performance

Shares of FTRE traded up $0.10 during mid-day trading on Monday, reaching $7.94. The company had a trading volume of 779,368 shares, compared to its average volume of 2,357,345. The company's 50 day simple moving average is $5.65 and its 200 day simple moving average is $7.81. Fortrea has a 1-year low of $3.97 and a 1-year high of $25.28. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $720.50 million, a price-to-earnings ratio of -0.70 and a beta of 1.81.

Insider Buying and Selling at Fortrea

In other Fortrea news, Director Peter M. Neupert acquired 32,500 shares of Fortrea stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $6.26 per share, with a total value of $203,450.00. Following the completion of the purchase, the director directly owned 98,132 shares in the company, valued at $614,306.32. This trade represents a 49.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Fortrea

Institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fortrea during the fourth quarter valued at $30,000. GF Fund Management CO. LTD. bought a new stake in Fortrea during the fourth quarter valued at $35,000. Brooklyn Investment Group raised its holdings in shares of Fortrea by 9,577.5% during the first quarter. Brooklyn Investment Group now owns 3,871 shares of the company's stock valued at $29,000 after purchasing an additional 3,831 shares during the period. Covestor Ltd raised its holdings in shares of Fortrea by 57.7% during the fourth quarter. Covestor Ltd now owns 4,356 shares of the company's stock valued at $81,000 after purchasing an additional 1,593 shares during the period. Finally, Quarry LP raised its holdings in shares of Fortrea by 1,218.7% during the fourth quarter. Quarry LP now owns 4,365 shares of the company's stock valued at $81,000 after purchasing an additional 4,034 shares during the period.

Fortrea Company Profile

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.