Wall Street brokerages predict that Colfax Corp (NYSE:CFX) will report $817.34 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Colfax’s earnings. The highest sales estimate is $852.60 million and the lowest is $771.40 million. Colfax posted sales of $844.93 million during the same quarter last year, which suggests a negative year-over-year growth rate of 3.3%. The firm is scheduled to issue its next earnings report on Friday, May 4th.
According to Zacks, analysts expect that Colfax will report full-year sales of $817.34 million for the current year, with estimates ranging from $3.52 billion to $3.67 billion. For the next year, analysts expect that the company will post sales of $3.76 billion per share, with estimates ranging from $3.70 billion to $3.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Colfax.
Colfax (NYSE:CFX) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Colfax had a net margin of 4.28% and a return on equity of 5.95%. The company had revenue of $874.00 million during the quarter, compared to analysts’ expectations of $894.02 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis.
A number of research firms have weighed in on CFX. Zacks Investment Research raised shares of Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a report on Tuesday, January 9th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Colfax in a report on Tuesday, November 7th. Barclays started coverage on shares of Colfax in a research note on Thursday, February 15th. They set an “underweight” rating for the company. Oppenheimer reissued a “hold” rating on shares of Colfax in a research note on Thursday, November 30th. Finally, Stifel Nicolaus cut their target price on shares of Colfax from $48.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.74.
Colfax (NYSE:CFX) traded down $0.30 on Friday, reaching $32.76. 563,504 shares of the company’s stock were exchanged, compared to its average volume of 916,549. Colfax has a one year low of $31.26 and a one year high of $43.29. The company has a quick ratio of 1.49, a current ratio of 1.89 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3,978.56, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.13 and a beta of 1.33.
In related news, CEO Ian Brander sold 1,240 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $33.46, for a total transaction of $41,490.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP A. Lynne Puckett sold 770 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $33.46, for a total transaction of $25,764.20. The disclosure for this sale can be found here. Insiders have sold 64,295 shares of company stock valued at $2,463,601 in the last three months. Corporate insiders own 10.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in Colfax by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 251 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in Colfax during the third quarter worth about $160,000. Valeo Financial Advisors LLC acquired a new position in Colfax during the third quarter worth about $177,000. Itau Unibanco Holding S.A. boosted its position in Colfax by 225.8% during the fourth quarter. Itau Unibanco Holding S.A. now owns 5,170 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 3,583 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. acquired a new position in Colfax during the third quarter worth about $206,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.
Colfax Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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