Brokerages forecast that CIRCOR International, Inc. (NYSE:CIR) will post sales of $254.35 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for CIRCOR International’s earnings, with the lowest sales estimate coming in at $249.60 million and the highest estimate coming in at $259.10 million. CIRCOR International reported sales of $297.51 million in the same quarter last year, which would suggest a negative year over year growth rate of 14.5%. The business is expected to announce its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that CIRCOR International will report full year sales of $1.06 billion for the current financial year, with estimates ranging from $1.06 billion to $1.07 billion. For the next financial year, analysts anticipate that the business will post sales of $1.07 billion, with estimates ranging from $1.05 billion to $1.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CIRCOR International.
CIRCOR International (NYSE:CIR) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The firm had revenue of $269.61 million during the quarter, compared to analyst estimates of $277.06 million. CIRCOR International had a negative net margin of 4.81% and a positive return on equity of 7.47%. CIRCOR International’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS.
A number of equities research analysts have recently issued reports on the stock. KeyCorp reiterated a “hold” rating on shares of CIRCOR International in a research report on Monday, August 26th. Citigroup reduced their price target on shares of CIRCOR International from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. ValuEngine downgraded shares of CIRCOR International from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th. TheStreet upgraded shares of CIRCOR International from a “d+” rating to a “c-” rating in a research report on Friday, May 31st. Finally, Zacks Investment Research downgraded shares of CIRCOR International from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.75.
Several institutional investors and hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its stake in shares of CIRCOR International by 64.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 11,149 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 4,349 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of CIRCOR International by 24.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 74,247 shares of the industrial products company’s stock worth $3,415,000 after purchasing an additional 14,705 shares in the last quarter. Wilen Investment Management CORP. increased its stake in shares of CIRCOR International by 30.0% during the 2nd quarter. Wilen Investment Management CORP. now owns 12,794 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 2,952 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of CIRCOR International by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 215,759 shares of the industrial products company’s stock worth $9,924,000 after purchasing an additional 6,985 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in shares of CIRCOR International during the 2nd quarter worth approximately $192,000.
Shares of CIR stock traded up $0.72 during midday trading on Wednesday, reaching $37.72. 1,936 shares of the company traded hands, compared to its average volume of 123,876. The firm’s 50 day simple moving average is $36.25 and its two-hundred day simple moving average is $37.34. CIRCOR International has a 1-year low of $19.73 and a 1-year high of $48.70. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.24 and a quick ratio of 1.35. The firm has a market cap of $741.66 million, a PE ratio of 17.88 and a beta of 2.13.
CIRCOR International Company Profile
CIRCOR International, Inc designs, manufactures, and markets engineered products and sub-systems worldwide. It operates through three segments: Energy, Aerospace and Defense, and Industrial. The Energy segment offers a range of flow control solutions and services, including valves, such as engineered trunion and floating ball valves; gate, globe, and check valves; and butterfly valves, as well as delayed coking unheading devices and fluid catalytic converter and isolation valves.
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