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Fortrea Holdings Inc. (FTRE)
NASDAQ:FTRE
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FTRE Stock Chart & Stats
Day’s Range$0 - $0
52-Week Range$18.07 - $41.02
Previous Close$22.98
Volume1.44M
Average Volume (3M)1.38M
Market Cap
$2.06B
Enterprise Value$3.14B
Total Cash (Recent Filing)$126.20M
Total Debt (Recent Filing)$1.20B
Price to Earnings (P/E)―
Beta0.92
Next Earnings
Nov 11, 2024EPS Estimate
$0.25Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)-2.97
Shares Outstanding89,600,000
10 Day Avg. Volume1,031,500
30 Day Avg. Volume1,383,212
Standard Deviation0.15
R-Squared0.02
Alpha-0.03
Financial Highlights & Ratios
Price to Book (P/B)1.29
Price to Sales (P/S)0.89
Price to Cash Flow (P/CF)-19.40
P/FCF Ratio45.70
Enterprise Value/Market CapN/A
Enterprise Value/Revenue1.08
Enterprise Value/Gross Profit6.03
Enterprise Value/Ebitda-42.84
Forecast
1Y Price Target
$24.00Price Target Upside0.59% Upside
Rating ConsensusHold
Number of Analyst Covering8
Fortrea Holdings Inc. News
Bulls Say, Bears Say
Bulls Say
Debt ReductionFTRE reduced leverage to 4.9x TTM debt/adjusted EBITDA following the repayment of $504mm on its term loans in Q2:24, compared to ~6.6x in Q1:24, a key highlight in the quarter.
Revenue GrowthSecond half revenue will step up from 1H24 and leadership highlighted that 4Q revenue should be stronger than 3Q.
Strategic WinsSigns of life in larger pharma. Alongside another CRO, FTRE won a new full service strategic relationship with a top-10 pharma, beating out four other competitors.
Bears Say
Execution RisksConfidence in execution and outlook are lacking given numerous presentation changes, accounting restatements and corrections.
Financial PerformanceFTRE was down more than -20% after reporting Q2:24 results, highlighted by a net book-to-bill below 1.0x, and both a revenue and adjusted EBITDA guidance reduction.
Operational ChallengesWeaker than expected bookings trends driven by slow decision-making from smaller biotech customers and an unfavorable business mix was the key takeaway this quarter, which also contributed to FTRE's newly lowered 2024E outlook.
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Risk Analysis
Main Risk Category
Finance & CorporateFinancial and accounting risks. Risks related to the execution of corporate activity and strategy
FTRE FAQ
What was Fortrea Holdings Inc.’s price range in the past 12 months?
Fortrea Holdings Inc. lowest stock price was $18.07 and its highest was $41.02 in the past 12 months.
What is Fortrea Holdings Inc.’s market cap?
Currently, no data Available
When is Fortrea Holdings Inc.’s upcoming earnings report date?
Fortrea Holdings Inc.’s upcoming earnings report date is Nov 11, 2024 which is in 52 days.
How were Fortrea Holdings Inc.’s earnings last quarter?
Fortrea Holdings Inc. released its earnings results on Aug 12, 2024. The company reported -$0.03 earnings per share for the quarter, missing the consensus estimate of $0.068 by -$0.098.
Is Fortrea Holdings Inc. overvalued?
According to Wall Street analysts Fortrea Holdings Inc.’s price is currently Undervalued.
Does Fortrea Holdings Inc. pay dividends?
Fortrea Holdings Inc. does not currently pay dividends.
What is Fortrea Holdings Inc.’s EPS estimate?
Fortrea Holdings Inc.’s EPS estimate is $0.25.
How many shares outstanding does Fortrea Holdings Inc. have?
Fortrea Holdings Inc. has 89,600,000 shares outstanding.
What happened to Fortrea Holdings Inc.’s price movement after its last earnings report?
Fortrea Holdings Inc. reported an EPS of -$0.03 in its last earnings report, missing expectations of $0.068. Following the earnings report the stock price went down -20.35%.
Which hedge fund is a major shareholder of Fortrea Holdings Inc.?
Among the largest hedge funds holding Fortrea Holdings Inc.’s share is Starboard Value LP. It holds Fortrea Holdings Inc.’s shares valued at 187M.
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Fortrea Holdings Inc. Stock Smart Score
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Analyst Consensus
Hold
Average Price Target:
$24.00 (0.59% Upside)
$24.00 (0.59% Upside)
Blogger Sentiment
Bullish
FTRE Sentiment 66%
Sector Average 71%
Sector Average 71%
Hedge Fund Trend
Increased
By 7.0M Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Negative
Last 7 Days ▼ 1.7%
Last 30 Days ▼ 2.0%
Last 30 Days ▼ 2.0%
Technicals
SMA
Negative
20 days / 200 days
Momentum
-19.98%
12-Months-Change
Fundamentals
Return on Equity
-14.21%
Trailing 12-Months
Asset Growth
-18.15%
Trailing 12-Months
Company Description
Fortrea Holdings Inc.
Fortrea Holdings Inc. provides clinical development and patient access solutions to the life sciences industry. It offers phase I-IV clinical trial management, clinical pharmacology, differentiated technology enabled trial solutions, and post approval services. The company serves pharmaceutical, biotechnology, and medical device organizations. Fortrea Holdings Inc. is based in Durham, North Carolina.
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FTRE Company Deck
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FTRE Earnings Call
Q2 2024
0:00 / 0:00
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FTRE Stock 12 Month Forecast
Average Price Target
$24.00
▲(0.59% Upside)
Technical Analysis
Best Analysts Covering FTRE
1 Year
1 Year Success Rate
2/3 ratings generated profit
1 Year Average Return
+5.60%
reiterated a sell rating last month
Copying Michael Ryskin's trades and holding each position for 1 Year would result in 66.67% of your transactions generating a profit, with an average return of +5.60% per trade.
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