Q4 2017 EPS Estimates for Colfax Corp (CFX) Cut by KeyCorp
Colfax Corp (NYSE:CFX) – Research analysts at KeyCorp cut their Q4 2017 earnings per share estimates for Colfax in a research note issued on Wednesday. KeyCorp analyst J. Hammond now anticipates that the industrial products company will post earnings per share of $0.39 for the quarter, down from their previous estimate of $0.41. KeyCorp has a “Buy” rating and a $46.00 price objective on the stock.
Several other equities research analysts also recently commented on CFX. BidaskClub downgraded shares of Colfax from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Argus reaffirmed a “buy” rating and set a $50.00 price objective on shares of Colfax in a report on Tuesday, August 29th. Cowen reaffirmed a “buy” rating and set a $50.00 price objective on shares of Colfax in a report on Tuesday, September 26th. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price target on shares of Colfax in a report on Wednesday, September 27th. Finally, Citigroup reissued a “sell” rating and issued a $40.00 price target (up from $39.00) on shares of Colfax in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $46.40.
Colfax (NYSE:CFX) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $844.50 million for the quarter, compared to the consensus estimate of $901.09 million. Colfax had a net margin of 4.89% and a return on equity of 6.26%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share.
In related news, SVP Stephen Wittig sold 29,189 shares of the firm’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 sale, the senior vice president now directly owns 15,479 shares of the company’s stock, valued at $608,324.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CFX. Bronfman E.L. Rothschild L.P. grew its position in Colfax by 4,167.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,603 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 2,542 shares during the last quarter. Toronto Dominion Bank bought a new position in Colfax during the second quarter valued at approximately $118,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Colfax by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 323 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Colfax by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 251 shares during the last quarter. Finally, FNY Managed Accounts LLC bought a new position in Colfax during the third quarter valued at approximately $160,000. Institutional investors and hedge funds own 74.83% of the company’s stock.
Colfax 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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