Zacks: Brokerages Expect Farfetch Ltd (NYSE:FTCH) to Announce -$0.35 EPS

Wall Street analysts expect Farfetch Ltd (NYSE:FTCH – Get Rating) to announce earnings of ($0.35) per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Farfetch’s earnings, with the highest EPS estimate coming in at ($0.28) and the lowest estimate coming in at ($0.41). Farfetch reported earnings per share of ($0.28) during the same quarter last year, which suggests a negative year over year growth rate of 25%. The company is scheduled to report its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Farfetch will report full year earnings of ($1.23) per share for the current financial year, with EPS estimates ranging from ($1.61) to ($0.89). For the next fiscal year, analysts anticipate that the firm will report earnings of ($1.05) per share, with EPS estimates ranging from ($1.74) to ($0.54). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Farfetch.

Farfetch (NYSE:FTCH – Get Rating) last posted its earnings results on Thursday, February 24th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.09. The firm had revenue of $665.65 million during the quarter, compared to the consensus estimate of $673.31 million. Farfetch had a net margin of 64.79% and a negative return on equity of 331.09%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($6.53) EPS.

FTCH has been the subject of a number of research analyst reports. Wedbush dropped their target price on shares of Farfetch from $30.00 to $20.00 in a research report on Friday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Farfetch from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 16th. UBS Group lowered their price objective on shares of Farfetch from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. UBS analyst Kunal Madhukar lowered the price target on Farfetch (NYSE: FTCH) to $14.00 (from $19.00) while maintaining a Buy rating. BTIG Research lowered their price objective on shares of Farfetch from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, April 11th. Finally, Societe Generale raised shares of Farfetch from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Friday, March 25th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $34.59.

FTCH traded up $0.41 on Friday, reaching $7.51. 1,694,564 shares of the company’s stock were exchanged, compared to its average volume of 9,934,273. The company’s 50 day moving average is $12.20 and its 200-day moving average is $21.73. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -7.02 and a beta of 3.13. Farfetch has a twelve month low of $6.53 and a twelve month high of $53.77. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.05 and a current ratio of 2.33.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Martin Currie Ltd. lifted its stake in Farfetch by 23.2% in the first quarter. Martin Currie Ltd. now owns 4,205,897 shares of the company’s stock valued at $63,593,000 after buying an additional 792,507 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Farfetch by 33.8% in the first quarter. Neuberger Berman Group LLC now owns 170,248 shares of the company’s stock valued at $2,574,000 after buying an additional 43,009 shares during the last quarter. Capital International Sarl lifted its stake in Farfetch by 22.0% in the first quarter. Capital International Sarl now owns 19,249 shares of the company’s stock valued at $291,000 after buying an additional 3,474 shares during the last quarter. Capital International Ltd. CA lifted its stake in Farfetch by 15.6% in the first quarter. Capital International Ltd. CA now owns 54,081 shares of the company’s stock valued at $818,000 after buying an additional 7,295 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Farfetch in the first quarter valued at $249,000. Hedge funds and other institutional investors own 81.36% of the company’s stock.

Farfetch Company Profile (Get Rating)

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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