Ferraci Stock $RACE swing long-term investment at weekly demandFerrari Stock NYSE:RACE swing long-term investment at weekly demand. The stock has reached a decent weekly demand level at $428 per share and it's trying to create a new bullish leg.
Ferrarirace
Ferrari Reported an Increase in Core Earnings Stock Down 0.61%Ferrari reported a 13% increase in core earnings in the first quarter of 2021, but its shares fell as the luxury sports car maker failed to excite investors. The Italian company said its quarterly results were boosted by pricing power, the mix of product sales, and a greater contribution from personalized vehicles. It also cited rising deliveries of its 2 million euro ($2.2 million) limited-series Daytona SP3 model. CEO Benedetto Vigna said Ferrari ( NYSE:RACE ) had produced double-digit growth for both revenue and profits despite stable car deliveries.
The company's adjusted earnings before interest, tax, depreciation and amortization (EBITDA) reached 605 million euros in January-March, in line with analyst expectations. However, shipment fell by seven units to 3,560, dragged by a 20% drop in the China, Hong Kong, and Taiwan region. Ferrari confirmed its forecast for full-year adjusted EBITDA to increase to at least 2.45 billion euros in 2024.
The company's net revenues of Euro 1,585 million, up 10.9% versus the prior year, with total shipments of 3,560 units $1flat versus Q1 2023. Adjusted EBIT(1) of Euro 442 million, up 14.8% versus the prior year, with adjusted EBIT(1) margin of 27.9%. Adjusted net profit of Euro 352 million and adjusted diluted EPS(1) at Euro 1.95 were up 12.7% versus the prior year, with adjusted EBITDA(1) margin of 38.2%.
The product portfolio in the quarter included nine internal combustion engine (ICE) models and four hybrid engine models, which represented 54% and 46% of total shipments, respectively. Revenues from Cars and spare parts were Euro 1,382 million, up 11.4% or 13.5% at constant currency(1). Sponsorship, commercial, and brand revenues reached Euro 145 million, up 11.6% or 12.0% at constant currency(1) attributable to new sponsorships, partially offset by lower Formula 1 ranking in 2023 vs. 2022. Other revenues were flat, with higher revenues from financial services activities offset by the decreased contribution from the Maserati contract which expired in 2023.
Currency had a negative net impact of Euro 26 million, mostly related to the Chinese Yuan, Japanese Yen, and US Dollar. Q1 2024 Adjusted EBITDA reached Euro 605 million, up 12.7% versus the prior year and with an Adjusted EBITDA(1) margin of 38.2%. Industrial free cash flow for the quarter was strong at Euro 321 million, driven by the increased Adjusted EBITDA, partially offset by capital expenditures of Euro 195 million and the increase in working capital, provisions, and other of Euro 71 million. As of March 31, 2024, the company was in a Net Industrial Cash position of Euro 38 million for the first time, compared to Net Industrial Debt of Euro 99 million as of December 31, 2023, also reflecting share repurchases of Euro 136 million.
RACE Daily TimeframeSNIPER STRATEGY
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😯 Ferrari Could Be MASSIVE For Bears! (RACE)💰 LET'S GET INTO SOME FERRARI ANALYSIS!💰
1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🐻 Bearish
- This one could be massive as a potential triple top crown could be in motion. We are now approaching the highs of the previous last 2 major structures. This could be a huge money maker for a bear!
- Let's also notice that we do have some lower lows on major structures. Failure to break higher will result in a massive drop I believe.
- I'm looking to play this one on a timeframe like the weekly for a turn around and hold a long term position.
Drop your charts and comments down below, share with us what you think is going on in the markets! ❤❤❤
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🥇MLT | MAJOR LEAGUE TRADER
Ferrari, very interesting set-upferrari's weekly chart looks quite unsettled: A head and shoulders pattern formed, but on the neckline level I can see a hammer and an inverted hammer. And even this week's candle seems to feel the neckline resistance. What to do then? No fucking idea. Consider a short if it breakes the neckline. But goddamit those two hammers are making me hard and anxious to buy. What do you god forsaken twats think?
