$913.82 Million in Sales Expected for Colfax Corporation (CFX) This Quarter
Wall Street analysts expect Colfax Corporation (NYSE:CFX) to report sales of $913.82 million for the current quarter, Zacks reports. Five analysts have made estimates for Colfax Corporation’s earnings. The lowest sales estimate is $903.90 million and the highest is $930.20 million. Colfax Corporation posted sales of $879.20 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Colfax Corporation will report full-year sales of $913.82 million for the current fiscal year, with estimates ranging from $3.68 billion to $3.77 billion. For the next year, analysts expect that the business will report sales of $3.93 billion per share, with estimates ranging from $3.83 billion to $4.01 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Colfax Corporation.
Colfax Corporation (NYSE:CFX) last posted its earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Colfax Corporation had a return on equity of 6.30% and a net margin of 4.35%. The business had revenue of $965.83 million during the quarter, compared to analysts’ expectations of $940.31 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was up .9% on a year-over-year basis.
A number of research analysts have recently weighed in on the company. Citigroup Inc. restated a “sell” rating and set a $40.00 price objective (up previously from $39.00) on shares of Colfax Corporation in a research report on Monday. Zacks Investment Research lowered Colfax Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and set a $45.00 price objective on shares of Colfax Corporation in a research report on Wednesday, September 27th. KeyCorp restated a “buy” rating and set a $46.00 price objective on shares of Colfax Corporation in a research report on Tuesday, September 26th. Finally, BidaskClub lowered Colfax Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $46.00.
Colfax Corporation (NYSE:CFX) opened at 42.03 on Thursday. The stock has a 50 day moving average price of $40.95 and a 200-day moving average price of $40.11. Colfax Corporation has a 12-month low of $28.47 and a 12-month high of $42.93. The stock has a market capitalization of $5.17 billion, a PE ratio of 33.07 and a beta of 1.32.
In other Colfax Corporation news, EVP Daniel A. Pryor sold 3,574 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $41.13, for a total transaction of $146,998.62. Following the completion of the transaction, the executive vice president now owns 40,224 shares in the company, valued at $1,654,413.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stephen Wittig sold 29,189 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total value of $1,147,127.70. Following the transaction, the senior vice president now owns 15,479 shares of the company’s stock, valued at approximately $608,324.70. The disclosure for this sale can be found here. Insiders have sold 33,202 shares of company stock valued at $1,312,182 in the last 90 days. Company insiders own 10.60% of the company’s stock.
Several large investors have recently made changes to their positions in CFX. Nationwide Fund Advisors boosted its position in shares of Colfax Corporation by 68.7% during the first quarter. Nationwide Fund Advisors now owns 20,288 shares of the industrial products company’s stock valued at $797,000 after buying an additional 8,261 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Colfax Corporation by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 345,335 shares of the industrial products company’s stock valued at $13,559,000 after buying an additional 1,978 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Colfax Corporation by 13.8% during the first quarter. Ameriprise Financial Inc. now owns 171,863 shares of the industrial products company’s stock valued at $6,747,000 after buying an additional 20,891 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Colfax Corporation by 32.3% during the first quarter. Parametric Portfolio Associates LLC now owns 127,174 shares of the industrial products company’s stock valued at $4,993,000 after buying an additional 31,035 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Colfax Corporation by 3.9% during the first quarter. Envestnet Asset Management Inc. now owns 17,028 shares of the industrial products company’s stock valued at $668,000 after buying an additional 635 shares during the period. Institutional investors and hedge funds own 75.22% of the company’s stock.
Colfax Corporation Company Profile
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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