Published on 26 Mar 2024 on Zacks via Yahoo Finance
Have you been paying attention to shares of Ferrari (RACE)? Shares have been on the move with the stock up 4.8% over the past month. The stock hit a new 52-week high of $442.24 in the previous session. Ferrari has gained 29.9% since the start of the year compared to the -6.7% move for the Zacks Auto-Tires-Trucks sector and the 4.3% return for the Zacks Automotive - Original Equipment industry.
What's Driving the Outperformance?
The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on February 1, 2024, Ferrari reported EPS of $1.74 versus consensus estimate of $1.59.