|Bid||5.04 x 0|
|Ask||5.13 x 0|
|Day's range||5.06 - 5.14|
|52-week range||3.36 - 5.55|
|Beta (5Y monthly)||1.35|
|PE ratio (TTM)||19.77|
|Earnings date||11 Nov 2021|
|Forward dividend & yield||0.08 (1.58%)|
|Ex-dividend date||21 Jun 2021|
|1y target est||5.68|
Italian tyremaker Pirelli said on Thursday it would manage to offset increasing pressures from raw material costs in the second half, as it raised its full-year forecasts after posting higher-than-expected operating profits in the second quarter. Pirelli, the sole supplier of Formula One tyres, said it saw an overall impact this year from higher raw materials prices, which have been affecting manufacturers worldwide, worth 3% of its revenue. "For the second half, we are expecting a much higher headwind because we see costs rising month after month," Pirelli's chief planning and control officer, Fabio Bocchio, told analysts.
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.