Ferguson Share Repurchase Program - Weekly Report
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William Blair Defending Ferguson Plc. (FERG), 'Buying Opportunity on Slight EPS Miss'
March 6, 2024 7:01 AM ESTWilliam Blair analyst Ryan Merkel reiterated an Outperform rating on Ferguson Plc. (NYSE: FERG).
The analyst comments "Second-quarter EPS missed the Street estimate by 4%, on lower sales and higher operating expense. The sales shortfall was due to contractors taking extended holiday vacations and challenging January weather. Full-year guidance was reiterated as open orders and daily sales trends support a return to positive organic growth during the second half. Importantly, February organic sales were flat and total sales growth was slightly positive with M&Ain line with our model and... More
