Farfetch Ltd (NYSE:FTCH) Expected to Post Earnings of -$0.37 Per Share

Wall Street brokerages forecast that Farfetch Ltd (NYSE:FTCH) will post earnings of ($0.37) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Farfetch’s earnings, with estimates ranging from ($0.40) to ($0.32). Farfetch posted earnings per share of ($0.30) in the same quarter last year, which would suggest a negative year over year growth rate of 23.3%. The firm is scheduled to issue its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Farfetch will report full-year earnings of ($1.27) per share for the current fiscal year, with EPS estimates ranging from ($1.33) to ($1.17). For the next year, analysts anticipate that the business will post earnings of ($1.04) per share, with EPS estimates ranging from ($1.30) to ($0.61). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Farfetch.

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

Several equities research analysts recently issued reports on FTCH shares. Wells Fargo & Co set a $17.00 price target on shares of Farfetch and gave the company a “buy” rating in a report on Friday, August 9th. Credit Suisse Group set a $22.00 price target on shares of Farfetch and gave the company a “buy” rating in a report on Friday, August 9th. China Renaissance Securities reiterated a “hold” rating on shares of Farfetch in a research report on Friday, August 9th. BTIG Research started coverage on shares of Farfetch in a research report on Tuesday, July 16th. They set a “buy” rating and a $26.00 target price on the stock. Finally, Bank of America cut their target price on shares of Farfetch from $33.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $23.56.

Shares of Farfetch stock traded down $0.12 during midday trading on Friday, hitting $7.87. 2,677,500 shares of the company traded hands, compared to its average volume of 2,822,839. The stock has a market cap of $2.40 billion and a price-to-earnings ratio of -13.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.91 and a current ratio of 3.19. The firm’s fifty day moving average price is $8.64 and its 200-day moving average price is $17.18. Farfetch has a 12 month low of $7.59 and a 12 month high of $31.60.

A number of large investors have recently bought and sold shares of FTCH. Morgan Stanley boosted 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 buying an additional 18,744,626 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Farfetch by 47.0% in 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 during the period. Invesco Ltd. acquired a new position in shares of Farfetch in the 2nd quarter worth approximately $128,360,000. Nuveen Asset Management LLC acquired a new position in shares of Farfetch in the 2nd quarter worth approximately $94,234,000. Finally, Luxor Capital Group LP lifted its position in shares of Farfetch by 2,210.6% in the 2nd quarter. Luxor Capital Group LP now owns 1,859,117 shares of the company’s stock worth $38,670,000 after purchasing an additional 1,778,655 shares during the period. Institutional investors and hedge funds own 66.26% of the company’s stock.

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.

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