|Bid||5.07 x 0|
|Ask||5.08 x 0|
|Day's range||5.05 - 5.10|
|52-week range||3.36 - 5.32|
|Beta (5Y monthly)||1.37|
|PE ratio (TTM)||158.44|
|Earnings date||05 Aug 2021|
|Forward dividend & yield||0.08 (1.56%)|
|Ex-dividend date||21 Jun 2021|
|1y target est||7.36|
Italian tyremaker Pirelli said on Wednesday it was producing the world's first FSC-certified range of tyres, which it designed for BMW's X5 xDrive45e plug-in hybrid model. The Forest Stewardship Council (FSC) is an international non-profit organisation which sets standards for environmentally responsible management of forests and certifying environmental policies. The new tyres contain FSC-certified natural rubber and rayon, Pirelli said in a statement, adding they will help achieve an increasingly sustainable tyre production.
Italian tyre-maker Pirelli said on Wednesday the market outlook was still partially uncertain after posting higher-than-expected operating earnings in the third quarter and narrowing its margin forecast for this year. The manufacturer of tyres for Formula One and high-end carmakers such as BMW and Audi said the 2020 market outlook had improved in the North America and APAC regions. Pirelli said its adjusted earnings before interest and tax (EBIT) stood at 231.7 million euros ($272.5 million) in the third quarter, down from 244.5 million euros a year ago.
When the coronavirus pandemic forced Italian tyremaker Pirelli <PIRC.MI> to temporarily shut its factories in March, R&D chief Pierangelo Misani needed a rapid rethink. With a new range of products due to be launched by early next year at the latest, Misani scrambled technicians and IT teams to get more research and development shifted online so locked down engineers could test materials and tyres virtually. The pandemic has disrupted production and sales for tyremakers worldwide - Pirelli's revenue fell by a third in the first six months of 2020 - and it needed to keep its new tyre development on track for an expected sales rebound next year.