Colfax Corp (CFX) Expected to Announce Quarterly Sales of $899.64 Million

Wall Street brokerages expect Colfax Corp (NYSE:CFX) to report sales of $899.64 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Colfax’s earnings, with estimates ranging from $866.86 million to $938.70 million. Colfax posted sales of $933.75 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.7%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, February 6th.

On average, analysts expect that Colfax will report full-year sales of $899.64 million for the current year, with estimates ranging from $3.29 billion to $3.59 billion. For the next financial year, analysts expect that the company will post sales of $3.61 billion per share, with estimates ranging from $3.58 billion to $3.66 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Colfax.

Colfax (NYSE:CFX) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. Colfax had a return on equity of 6.26% and a net margin of 4.89%. The firm had revenue of $844.50 million for the quarter, compared to analysts’ expectations of $901.09 million. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year.

A number of brokerages have recently issued reports on CFX. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective on shares of Colfax in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a report on Tuesday, January 9th. Oppenheimer reiterated a “hold” rating on shares of Colfax in a report on Thursday, November 30th. Citigroup reiterated a “sell” rating and set a $40.00 target price (up from $39.00) on shares of Colfax in a report on Monday, October 9th. Finally, Longbow Research upgraded shares of Colfax from a “neutral” rating to a “buy” rating in a report on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Colfax currently has an average rating of “Buy” and a consensus target price of $46.20.

In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total value of $2,034,653.95. Following the completion of the sale, the executive vice president now directly owns 93,557 shares in the company, valued at $3,569,199.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP A. Lynne Puckett sold 7,270 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The disclosure for this sale can be found here. Company insiders own 10.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CFX. Toronto Dominion Bank purchased a new stake in Colfax in the second quarter worth about $118,000. The Manufacturers Life Insurance Company lifted its holdings in Colfax by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after buying an additional 251 shares during the period. FNY Managed Accounts LLC purchased a new stake in Colfax in the third quarter worth about $160,000. Valeo Financial Advisors LLC purchased a new stake in Colfax in the third quarter worth about $177,000. Finally, Godshalk Welsh Capital Management Inc. purchased a new stake in Colfax in the third quarter worth about $206,000. Institutional investors and hedge funds own 74.68% of the company’s stock.

Colfax (NYSE:CFX) opened at $41.04 on Monday. Colfax has a 12 month low of $33.31 and a 12 month high of $43.29. The stock has a market capitalization of $5,052.67, a PE ratio of 24.72, a PEG ratio of 1.56 and a beta of 1.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.80.

TRADEMARK VIOLATION NOTICE: “Colfax Corp (CFX) Expected to Announce Quarterly Sales of $899.64 Million” was published by American Banking News and is owned by of American Banking News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/01/29/colfax-corp-cfx-expected-to-announce-quarterly-sales-of-899-64-million.html.

Colfax Company Profile

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.

Get a free copy of the Zacks research report on Colfax (CFX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Colfax (NYSE:CFX)

Receive News & Ratings for Colfax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colfax and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply