Lazard Capital Markets Increases Chicago Bridge & Iron Company NV Price Target to $85.00 (CBI)
Research analysts at Lazard Capital Markets hoisted their target price on shares of Chicago Bridge & Iron Company NV (NYSE:CBI) from $75.00 to $85.00 in a report released on Friday, ARN reports. The firm currently has a “buy” rating on the stock. Lazard Capital Markets’ target price suggests a potential upside of 20.62% from the stock’s previous close.
In other Chicago Bridge & Iron Company NV news, EVP Patrick Mullen unloaded 4,500 shares of the stock on the open market in a transaction dated Thursday, September 26th. The stock was sold at an average price of $67.00, for a total transaction of $301,500.00. Following the transaction, the executive vice president now directly owns 20,999 shares of the company’s stock, valued at approximately $1,406,933. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of Chicago Bridge & Iron Company NV (NYSE:CBI) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 4th. They now have a $68.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Chicago Bridge & Iron Company NV (NYSE:CBI) from $65.00 to $69.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Chicago Bridge & Iron Company NV (NYSE:CBI) from $60.00 to $59.00 in a research note to investors on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $70.33.
Shares of Chicago Bridge & Iron Company NV (NYSE:CBI) traded up 1.12% on Friday, hitting $70.47. 1,041,709 shares of the company’s stock traded hands. Chicago Bridge & Iron Company NV has a 52 week low of $36.60 and a 52 week high of $71.31. The stock has a 50-day moving average of $63.46 and a 200-day moving average of $60.02. The company has a market cap of $7.562 billion and a P/E ratio of 22.96.
Chicago Bridge & Iron Company NV (NYSE:CBI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.03 by $0.01. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 119.3% on a year-over-year basis. On average, analysts predict that Chicago Bridge & Iron Company NV will post $4.17 earnings per share for the current fiscal year.
Chicago Bridge & Iron Company N.V. (NYSE:CBI) is one of the integrated engineering, procurement and construction (EPC) services providers and process technology licensors, delivering solutions to customers primarily in the energy, petrochemical and natural resource industries.
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