GSSSB Senior Clerk Answer Key

The growth of the EPS is critical in understanding the current valuation of Ferrari N.V.. The EPS growth rate, as it is typically called, is usually expressed as a percentage, which is 4.36%. The higher the EPS growth rate, the higher the value that is added to shareholders and a good reflection on the performance of the management at Ferrari N.V..



Ferrari N.V. is part of the consumer cyclical sector and is part of the autos industry. The company CEO is Sergio Marchionne. Ferrari NV is a designer and manufacturer of luxury performance sports cars under the brand name of Ferrari. Its sports cars portfolio includes F12berlinetta, FF, Ferrari 488 GTB, 488 Spider, 458 Speciale, Ferrari California, among others.

Previous Intraday Performance:

The RACE shares had a previous change of -8.78% which opened at 123.71 and closed at 117.63. It moved to an intraday high of 124.81 and a low of 117.63.

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Historical Performance:

Over the last five trading days, RACE shares returned -11.60% and in the past 30 trading days it returned -12.35%. Over three months, it changed -14.58%. In one year it has changed 2.29% and within that year its 52-week high was 149.85 and its 52-week low was 103.65. RACE stock is 13.49% above its 52 Week Low.

Our calculations result in a 200 day moving average of 127.47 and a 50 day moving average of 129.40. Right now, RACE stock is trading -7.72% below its 200 day moving average and may not be a great opportunity to buy as it may continue to trend down.

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Liquidity:

The company has a market cap of $28.8b with 245.1m shares outstanding and a float of 245.1m shares. Trading volume was 1,772,782 shares and has experienced an average volume of 719,230 shares. Our calculation, using the current average volume and close price, leads me to believe that the liquidity is good.

Earnings:

The last annual reported EPS for Ferrari N.V. was 0 which ended on 31st of December 2017, which according to the previous close, that is a PE of inf. Based on 3 analyst estimates, the consensus EPS for the next quarter is 0.85. The trailing twelve month EPS is 3.67, which comes to a trailing twelve month PE of 32.05.

Below was the last reported quarterly earnings per share:
06-30-2018:  1.00
03-31-2018:  0.96
12-31-2017:  0.84
09-30-2017:  0.87



The dividend per share is currently 0.71, which is a dividend yield of 0.60%. Also, the payout ratio is 19.35%, therefore the dividend is safe according to our calculations.

Base on our calculations, the intrinsic value per share is 97.93, which means it might overvalued by -20.12%

Indicators Also to Watch:

Based on the latest filings, there is 29.60% of institutional ownership. Short-interest was 3,348,284, which was 1.37% of shares outstanding. The short-interest ratio or days-to-cover ratio was 4.67. This stock has some short interest, but it might be normal and no need to worry if long the position.

I calculated the beta to be 1.47

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Fundamental Numbers:

Based on last reported financials, the company’s return on equity is 81.39%, return on assets is 14.09%, profit margin is 17.85%, price-to-sales is 12.66 and price-to-book is 29.75.

Company Score Card:

Results are out of six:
 3  : Growth Expectations Result
 3  : Financial Safety Result
 4  : Past Performance Result
 0  : Valuation Result
 1  : Dividend Safety Result
 2  : Overall Result

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Jake McWilliams
I am an independent trader, analyst and algorithmic trading expert, having worked both for the sell side (brokerage) and the buy side (fund administration). I have been trading professionally for about 20 years. I trade stocks and forex and I play both long and short positions in underlying asset or through options. I have experience with discretionary and fully automated systems (Metatrader and Quantshare).

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