Brokerages Anticipate Farfetch Ltd (NYSE:FTCH) Will Post Earnings of -$0.30 Per Share

Wall Street brokerages expect Farfetch Ltd (NYSE:FTCH) to announce ($0.30) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Farfetch’s earnings. The lowest EPS estimate is ($0.40) and the highest is ($0.20). Farfetch also posted earnings of ($0.30) per share during the same quarter last year. The business is scheduled to announce its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Farfetch will report full-year earnings of ($1.08) per share for the current fiscal year, with EPS estimates ranging from ($1.33) to ($0.84). For the next year, analysts anticipate that the firm will post earnings of ($0.91) per share, with EPS estimates ranging from ($1.21) to ($0.51). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Farfetch.

Farfetch (NYSE:FTCH) last announced its earnings results on Thursday, August 8th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.09). The firm had revenue of $209.30 million for the quarter, compared to the consensus estimate of $196.51 million. Farfetch had a negative return on equity of 25.53% and a negative net margin of 40.23%. Farfetch’s revenue for the quarter was up 42.7% compared to the same quarter last year.



FTCH has been the topic of several research reports. Zacks Investment Research raised Farfetch from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Credit Suisse Group set a $22.00 price target on Farfetch and gave the company a “buy” rating in a report on Friday, August 9th. Cowen dropped their price target on Farfetch from $33.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp initiated coverage on Farfetch in a report on Wednesday, June 12th. They issued an “overweight” rating and a $27.00 price target on the stock. Finally, BTIG Research initiated coverage on Farfetch in a report on Tuesday, July 16th. They issued a “buy” rating and a $26.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $24.42.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley grew its position in Farfetch by 139.8% during the 2nd quarter. Morgan Stanley now owns 32,155,141 shares of the company’s stock worth $668,828,000 after purchasing an additional 18,744,626 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Farfetch by 47.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 24,656,061 shares of the company’s stock worth $512,846,000 after purchasing an additional 7,886,096 shares in the last quarter. Invesco Ltd. purchased a new position in Farfetch during the 2nd quarter worth approximately $128,360,000. OppenheimerFunds Inc. grew its position in Farfetch by 0.4% during the 1st quarter. OppenheimerFunds Inc. now owns 4,814,650 shares of the company’s stock worth $129,561,000 after purchasing an additional 18,860 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Farfetch during the 2nd quarter worth approximately $94,234,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Shares of NYSE FTCH traded down $0.42 during trading on Monday, hitting $10.83. The company had a trading volume of 4,715,552 shares, compared to its average volume of 2,748,362. The company has a market cap of $3.37 billion and a P/E ratio of -18.36. Farfetch has a 52 week low of $9.22 and a 52 week high of $32.40. The business’s 50-day moving average is $18.27 and its 200 day moving average is $22.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.22 and a current ratio of 3.19.

Farfetch Company Profile

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

Recommended Story: Total Return

Get a free copy of the Zacks research report on Farfetch (FTCH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Farfetch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farfetch and related companies with MarketBeat.com's FREE daily email newsletter.