Colfax Corp (CFX) Forecasted to Earn FY2018 Earnings of $2.13 Per Share

Colfax Corp (NYSE:CFX) – Seaport Global Securities reduced their FY2018 earnings per share estimates for shares of Colfax in a note issued to investors on Wednesday. Seaport Global Securities analyst W. Liptak now anticipates that the industrial products company will earn $2.13 per share for the year, down from their prior estimate of $2.15. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Colfax’s Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.70 EPS, Q4 2019 earnings at $0.75 EPS and FY2019 earnings at $2.47 EPS.

Several other brokerages have also recently issued reports on CFX. Zacks Investment Research cut shares of Colfax from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and issued a $50.00 target price on shares of Colfax in a report on Tuesday, October 17th. Robert W. Baird restated a “buy” rating and issued a $50.00 target price on shares of Colfax in a report on Friday, October 27th. Cowen cut shares of Colfax from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 18th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $44.00 target price on shares of Colfax in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.40.

Shares of Colfax (NYSE CFX) traded down $0.73 during trading on Thursday, hitting $33.71. 740,901 shares of the stock traded hands, compared to its average volume of 885,057. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.47. Colfax has a 1 year low of $33.10 and a 1 year high of $43.29. The company has a market capitalization of $4,217.95, a PE ratio of 27.77, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17.

Colfax (NYSE:CFX) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Colfax had a net margin of 4.28% and a return on equity of 6.11%. The business had revenue of $874.00 million for the quarter, compared to analysts’ expectations of $894.02 million. During the same period last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the stock. FNY Managed Accounts LLC purchased a new stake in Colfax in the third quarter worth $160,000. Prudential Financial Inc. lifted its position in Colfax by 19.6% during the third quarter. Prudential Financial Inc. now owns 34,755 shares of the industrial products company’s stock valued at $1,447,000 after buying an additional 5,700 shares during the period. BlackRock Inc. lifted its position in Colfax by 1.7% during the second quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock valued at $164,353,000 after buying an additional 70,676 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Colfax during the second quarter valued at $327,000. Finally, Dimensional Fund Advisors LP lifted its position in Colfax by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,737,287 shares of the industrial products company’s stock valued at $113,984,000 after buying an additional 10,709 shares during the period. 74.66% of the stock is owned by institutional investors.

In related news, SVP A. Lynne Puckett sold 7,270 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total value of $305,412.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel A. Pryor sold 53,333 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was 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 of the company’s stock, valued at approximately $3,569,199.55. The disclosure for this sale can be found here. Company insiders own 10.60% of the company’s stock.

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About Colfax

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.

Earnings History and Estimates for Colfax (NYSE:CFX)

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