Chicago Bridge & Iron (NYSE:CBI) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 33,709,807 shares, an increase of 14.3% from the April 13th total of 29,488,472 shares. Approximately 33.6% of the company’s stock are short sold. Based on an average daily volume of 10,507,959 shares, the short-interest ratio is presently 3.2 days.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cowen Inc. bought a new position in Chicago Bridge & Iron in the 1st quarter worth $4,320,000. Verition Fund Management LLC bought a new position in Chicago Bridge & Iron in the 1st quarter worth $203,000. Sciencast Management LP bought a new position in Chicago Bridge & Iron in the 1st quarter worth $153,000. Highland Capital Management LP bought a new position in Chicago Bridge & Iron in the 1st quarter worth $667,000. Finally, Natixis bought a new position in Chicago Bridge & Iron in the 1st quarter worth $387,000. Hedge funds and other institutional investors own 63.00% of the company’s stock.
Several equities research analysts recently issued reports on CBI shares. KeyCorp raised shares of Chicago Bridge & Iron to an “overweight” rating and set a $14.00 price objective for the company in a research note on Wednesday, January 24th. Zacks Investment Research lowered shares of Chicago Bridge & Iron from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. ValuEngine lowered shares of Chicago Bridge & Iron from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Robert W. Baird reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Chicago Bridge & Iron in a research note on Monday, April 9th. Finally, Citigroup reduced their price objective on shares of Chicago Bridge & Iron from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, April 24th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.00.
Shares of Chicago Bridge & Iron opened at $16.39 on Thursday, according to Marketbeat.com. The firm has a market capitalization of $1.65 billion, a P/E ratio of -8.81, a PEG ratio of 1.06 and a beta of 2.46. Chicago Bridge & Iron has a one year low of $9.55 and a one year high of $25.49.
Chicago Bridge & Iron (NYSE:CBI) last announced its earnings results on Monday, April 23rd. The construction company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.40 by $0.23. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.75 billion. Chicago Bridge & Iron had a negative net margin of 22.27% and a negative return on equity of 22.97%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. analysts expect that Chicago Bridge & Iron will post 1.69 earnings per share for the current fiscal year.
About Chicago Bridge & Iron
Chicago Bridge & Iron Company N.V. provides services to customers in energy infrastructure market. The Company provides services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.
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