CIRCOR International, Inc. (NYSE:CIR) Expected to Announce Quarterly Sales of $157.63 Million
Brokerages expect that CIRCOR International, Inc. (NYSE:CIR) will report sales of $157.63 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for CIRCOR International’s earnings, with the lowest sales estimate coming in at $155.60 million and the highest estimate coming in at $159.00 million. CIRCOR International posted sales of $146.39 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.7%. The company is expected to issue its next quarterly earnings results before the market opens on Friday, July 28th.
On average, analysts expect that CIRCOR International will report full-year sales of $157.63 million for the current fiscal year, with estimates ranging from $615.40 million to $676.50 million. For the next year, analysts forecast that the firm will post sales of $710.20 million per share, with estimates ranging from $640.10 million to $739.60 million. Zacks’ sales calculations are an average based on a survey of analysts that follow CIRCOR International.
CIRCOR International (NYSE:CIR) last posted its quarterly earnings results on Friday, April 28th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $145.20 million during the quarter, compared to analysts’ expectations of $146.29 million. CIRCOR International had a return on equity of 7.21% and a net margin of 1.88%. CIRCOR International’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share.
A number of brokerages have recently issued reports on CIR. Zacks Investment Research upgraded CIRCOR International from a “strong sell” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $72.00 price objective on shares of CIRCOR International in a report on Friday, July 14th. Sidoti raised CIRCOR International from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, June 22nd. They noted that the move was a valuation call. Seaport Global Securities lowered CIRCOR International from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $70.00 to $60.00 in a report on Wednesday, June 21st. Finally, ValuEngine raised CIRCOR International from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $65.00.
Several hedge funds have recently made changes to their positions in CIR. Karp Capital Management Corp acquired a new stake in shares of CIRCOR International during the first quarter valued at $375,000. Aperio Group LLC increased its stake in shares of CIRCOR International by 9.2% in the second quarter. Aperio Group LLC now owns 6,891 shares of the industrial products company’s stock valued at $409,000 after buying an additional 579 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of CIRCOR International by 32.5% in the first quarter. OppenheimerFunds Inc. now owns 7,797 shares of the industrial products company’s stock valued at $463,000 after buying an additional 1,912 shares in the last quarter. Arizona State Retirement System increased its position in CIRCOR International by 1.2% in the first quarter. Arizona State Retirement System now owns 8,538 shares of the industrial products company’s stock valued at $507,000 after buying an additional 100 shares in the last quarter. Finally, Comerica Bank increased its position in CIRCOR International by 5.9% in the fourth quarter. Comerica Bank now owns 17,988 shares of the industrial products company’s stock valued at $1,124,000 after buying an additional 1,000 shares in the last quarter.
CIRCOR International (NYSE:CIR) traded down 1.44% during mid-day trading on Friday, hitting $57.49. 46,899 shares of the stock were exchanged. The firm has a 50-day moving average price of $61.40 and a 200-day moving average price of $61.71. CIRCOR International has a 12-month low of $48.11 and a 12-month high of $72.96. The stock has a market capitalization of $948.24 million, a P/E ratio of 85.93 and a beta of 1.69.
About CIRCOR International
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems for markets, including oil and gas, aerospace, power and process, and industrial solutions. The Company operates through two segments: CIRCOR Energy (Energy segment (Energy)) and CIRCOR Advanced Flow Solutions (Advanced Flow Solutions segment (AFS)).
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