Gabelli Brokers Reduce Earnings Estimates for Circor International Inc. (CIR)
Circor International Inc. (NYSE:CIR) – Analysts at Gabelli lowered their FY2017 earnings per share (EPS) estimates for shares of Circor International in a note issued to investors on Friday. Gabelli analyst J. Foung now anticipates that the brokerage will earn $2.65 per share for the year, down from their previous estimate of $2.75. Gabelli also issued estimates for Circor International’s FY2018 earnings at $3.05 EPS.
Circor International (NYSE:CIR) last posted its earnings results on Friday, July 29th. The company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.07. The firm had revenue of $146.40 million for the quarter, compared to the consensus estimate of $144.01 million. Circor International had a net margin of 1.09% and a return on equity of 9.45%. The business’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share.
Several other brokerages have also issued reports on CIR. Zacks Investment Research raised shares of Circor International from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, June 28th. Stifel Nicolaus decreased their price target on shares of Circor International from $68.00 to $61.00 and set a “buy” rating for the company in a report on Monday, August 1st. KeyCorp started coverage on shares of Circor International in a report on Tuesday, September 20th. They issued a “sector weight” rating for the company. Finally, SunTrust Banks Inc. raised shares of Circor International from a “reduce” rating to a “hold” rating and boosted their price target for the company from $46.00 to $55.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $54.50.
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Shares of Circor International (NYSE:CIR) opened at 51.94 on Monday. The stock has a 50 day moving average price of $56.44 and a 200 day moving average price of $55.78. Circor International has a 12 month low of $32.79 and a 12 month high of $62.87. The firm has a market capitalization of $853.01 million, a P/E ratio of 128.25 and a beta of 1.39.
A number of large investors have recently bought and sold shares of CIR. PineBridge Investments L.P. boosted its stake in Circor International by 7.5% in the second quarter. PineBridge Investments L.P. now owns 2,083 shares of the company’s stock valued at $119,000 after buying an additional 146 shares in the last quarter. Nisa Investment Advisors L.L.C. boosted its stake in Circor International by 14.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,600 shares of the company’s stock valued at $770,000 after buying an additional 2,100 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Circor International by 35.5% in the second quarter. Ameriprise Financial Inc. now owns 103,139 shares of the company’s stock valued at $5,878,000 after buying an additional 27,019 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Circor International by 0.7% in the second quarter. Gamco Investors INC. ET AL now owns 1,556,241 shares of the company’s stock valued at $88,690,000 after buying an additional 10,700 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Circor International by 2.1% in the second quarter. California Public Employees Retirement System now owns 19,300 shares of the company’s stock valued at $1,100,000 after buying an additional 400 shares in the last quarter.
In related news, Director Douglas M. Hayes sold 3,000 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $61.17, for a total value of $183,510.00. Following the sale, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $890,390.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
About Circor International
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems, which are used in the oil and gas, power generation, aerospace, defense and other industrial markets. The Company operates through two segments: CIRCOR Energy (Energy), and CIRCOR Aerospace & Defense (Aerospace & Defense).
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