Brokerages Expect Comfort Systems USA, Inc. (FIX) Will Post Quarterly Sales of $465.50 Million
Brokerages expect that Comfort Systems USA, Inc. (NYSE:FIX) will announce $465.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Comfort Systems USA’s earnings. The highest sales estimate is $466.00 million and the lowest is $465.00 million. Comfort Systems USA posted sales of $427.54 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The firm is scheduled to report its next earnings report on Thursday, July 27th.
On average, analysts expect that Comfort Systems USA will report full-year sales of $465.50 million for the current fiscal year, with estimates ranging from $1.75 billion to $1.80 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.94 billion per share, with estimates ranging from $1.88 billion to $2.00 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Comfort Systems USA.
Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings results on Wednesday, April 26th. The construction company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Comfort Systems USA had a return on equity of 16.94% and a net margin of 3.84%. The company had revenue of $380.60 million for the quarter, compared to analyst estimates of $405.43 million. During the same period in the prior year, the business earned $0.26 earnings per share. Comfort Systems USA’s revenue for the quarter was down 1.4% compared to the same quarter last year.
Several research firms have recently issued reports on FIX. Zacks Investment Research cut Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. BidaskClub cut Comfort Systems USA from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Jefferies Group LLC increased their price target on Comfort Systems USA from $80.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, May 3rd. Finally, Guggenheim began coverage on Comfort Systems USA in a research note on Tuesday, April 11th. They issued a “buy” rating for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.00.
Comfort Systems USA (NYSE:FIX) traded up 1.68% during midday trading on Wednesday, reaching $36.25. The company’s stock had a trading volume of 20,726 shares. The company’s 50-day moving average price is $35.24 and its 200-day moving average price is $35.00. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 21.82 and a beta of 1.29. Comfort Systems USA has a 1-year low of $26.05 and a 1-year high of $39.67.
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In other news, Chairman Franklin Myers acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average price of $35.39 per share, for a total transaction of $141,560.00. Following the completion of the acquisition, the chairman now directly owns 195,500 shares in the company, valued at approximately $6,918,745. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Krusi sold 3,000 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $36.22, for a total value of $108,660.00. The disclosure for this sale can be found here. Corporate insiders own 3.49% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can raised its stake in shares of Comfort Systems USA by 100.3% in the second quarter. Bank of Montreal Can now owns 144,283 shares of the construction company’s stock valued at $5,353,000 after buying an additional 72,265 shares during the period. Credit Suisse AG raised its stake in shares of Comfort Systems USA by 52.8% in the first quarter. Credit Suisse AG now owns 62,890 shares of the construction company’s stock valued at $2,305,000 after buying an additional 21,739 shares during the period. Tudor Investment Corp ET AL raised its stake in shares of Comfort Systems USA by 1.7% in the first quarter. Tudor Investment Corp ET AL now owns 24,631 shares of the construction company’s stock valued at $903,000 after buying an additional 412 shares during the period. Paloma Partners Management Co increased its stake in shares of Comfort Systems USA by 137.9% in the first quarter. Paloma Partners Management Co now owns 16,559 shares of the construction company’s stock valued at $607,000 after buying an additional 9,598 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Comfort Systems USA by 5.3% in the first quarter. State Street Corp now owns 891,060 shares of the construction company’s stock valued at $32,661,000 after buying an additional 45,139 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.
About Comfort Systems USA
Comfort Systems USA, Inc is a provider of mechanical contracting services, which principally includes heating, ventilation and air conditioning (HVAC), plumbing, piping and controls, as well as off-site construction, electrical, monitoring and fire protection. As of December 31, 2016, the Company installed, maintained, repaired and replaced products and systems throughout its 35 operating units in 84 cities and 91 locations throughout the United States.
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