Q3 2017 EPS Estimates for Colfax Corporation (NYSE:CFX) Reduced by Seaport Global Securities
Colfax Corporation (NYSE:CFX) – Stock analysts at Seaport Global Securities decreased their Q3 2017 EPS estimates for shares of Colfax Corporation in a research report issued to clients and investors on Friday. Seaport Global Securities analyst R. Cassil now expects that the industrial products company will post earnings of $0.41 per share for the quarter, down from their previous forecast of $0.45. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Colfax Corporation’s Q4 2017 earnings at $0.52 EPS, FY2017 earnings at $1.72 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.59 EPS and FY2018 earnings at $2.07 EPS.
A number of other equities analysts have also recently commented on CFX. Barclays PLC set a $40.00 target price on shares of Colfax Corporation and gave the company a “hold” rating in a report on Saturday, May 6th. Zacks Investment Research raised shares of Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a research note on Tuesday, May 16th. Wolfe Research started coverage on shares of Colfax Corporation in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Robert W. Baird boosted their price objective on shares of Colfax Corporation from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, May 8th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Colfax Corporation in a research note on Tuesday, May 23rd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $46.00.
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Colfax Corporation (CFX) opened at 41.47 on Monday. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 32.63 and a beta of 1.37. The firm’s 50-day moving average is $39.94 and its 200-day moving average is $39.56. Colfax Corporation has a 52 week low of $27.75 and a 52 week high of $42.75.
Colfax Corporation (NYSE:CFX) last issued its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.43. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The business had revenue of $965.83 million for the quarter, compared to analyst estimates of $940.31 million. During the same quarter in the prior year, the business posted $0.41 EPS. Colfax Corporation’s revenue for the quarter was up .9% compared to the same quarter last year.
Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in shares of Colfax Corporation during the fourth quarter worth approximately $256,000. AQR Capital Management LLC purchased a new position in Colfax Corporation during the fourth quarter worth about $590,000. UBS Asset Management Americas Inc. raised its position in Colfax Corporation by 25.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,034,372 shares of the industrial products company’s stock worth $37,164,000 after buying an additional 208,083 shares during the last quarter. DAVENPORT & Co LLC raised its position in Colfax Corporation by 0.3% in the first quarter. DAVENPORT & Co LLC now owns 1,751,597 shares of the industrial products company’s stock worth $65,073,000 after buying an additional 5,945 shares during the last quarter. Finally, Alpha Windward LLC purchased a new position in Colfax Corporation during the first quarter worth about $473,000. Institutional investors own 77.32% of the company’s stock.
In other Colfax Corporation news, EVP Daniel A. Pryor sold 3,574 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.13, for a total value of $146,998.62. Following the sale, the executive vice president now directly owns 40,224 shares in the company, valued at $1,654,413.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP A. Lynne Puckett sold 10,882 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $40.14, for a total value of $436,803.48. Following the completion of the sale, the senior vice president now owns 40,907 shares in the company, valued at $1,642,006.98. The disclosure for this sale can be found here. Insiders have sold 15,560 shares of company stock worth $628,319 over the last 90 days. 10.60% of the stock is currently owned by company insiders.
About Colfax Corporation
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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