Equities analysts expect Colfax Corp (NYSE:CFX) to announce sales of $893.38 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Colfax’s earnings, with the lowest sales estimate coming in at $863.10 million and the highest estimate coming in at $917.36 million. Colfax reported sales of $844.51 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.8%. The business is expected to report its next earnings report before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Colfax will report full-year sales of $3.67 billion for the current fiscal year, with estimates ranging from $3.60 billion to $3.74 billion. For the next fiscal year, analysts expect that the company will post sales of $3.81 billion, with estimates ranging from $3.62 billion to $3.93 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Colfax.
Colfax (NYSE:CFX) last announced its earnings results on Monday, August 6th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.09. Colfax had a net margin of 3.47% and a return on equity of 6.64%. The firm had revenue of $925.29 million for the quarter, compared to the consensus estimate of $939.07 million. During the same period in the prior year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis.
Several equities research analysts recently weighed in on CFX shares. Morgan Stanley started coverage on shares of Colfax in a research note on Monday, August 20th. They set an “equal weight” rating and a $34.00 target price on the stock. Cowen raised shares of Colfax from a “market perform” rating to an “outperform” rating in a research note on Friday, August 17th. UBS Group raised shares of Colfax from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 4th. Zacks Investment Research raised shares of Colfax from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Thursday, August 9th. Finally, Barclays upped their target price on shares of Colfax from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 8th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.10.
In other Colfax news, CEO Matthew L. Trerotola sold 20,488 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $33.32, for a total transaction of $682,660.16. Following the completion of the transaction, the chief executive officer now owns 266,746 shares in the company, valued at approximately $8,887,976.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Colfax by 10.7% during the 2nd quarter. BlackRock Inc. now owns 4,660,022 shares of the industrial products company’s stock worth $142,829,000 after acquiring an additional 450,807 shares in the last quarter. Cooke & Bieler LP boosted its holdings in shares of Colfax by 226.3% in the 2nd quarter. Cooke & Bieler LP now owns 3,820,329 shares of the industrial products company’s stock valued at $117,093,000 after buying an additional 2,649,609 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Colfax by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,023,748 shares of the industrial products company’s stock valued at $92,677,000 after buying an additional 179,865 shares in the last quarter. Weitz Investment Management Inc. boosted its holdings in shares of Colfax by 1.5% in the 2nd quarter. Weitz Investment Management Inc. now owns 1,664,900 shares of the industrial products company’s stock valued at $51,029,000 after buying an additional 25,000 shares in the last quarter. Finally, Oakview Capital Management L.P. boosted its holdings in shares of Colfax by 44.8% in the 1st quarter. Oakview Capital Management L.P. now owns 733,656 shares of the industrial products company’s stock valued at $23,404,000 after buying an additional 226,824 shares in the last quarter. Institutional investors own 79.28% of the company’s stock.
Shares of CFX opened at $32.29 on Friday. Colfax has a fifty-two week low of $28.80 and a fifty-two week high of $43.29. The company has a market cap of $4.29 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. The company has a current ratio of 1.81, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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