Wall Street analysts expect that Chicago Bridge & Iron (NYSE:CBI) will announce $1.77 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Chicago Bridge & Iron’s earnings. The highest sales estimate is $1.85 billion and the lowest is $1.71 billion. Chicago Bridge & Iron reported sales of $2.54 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 30.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Tuesday, February 20th.
On average, analysts expect that Chicago Bridge & Iron will report full-year sales of $1.77 billion for the current fiscal year, with estimates ranging from $6.87 billion to $7.27 billion. For the next financial year, analysts forecast that the business will post sales of $6.75 billion per share, with estimates ranging from $6.32 billion to $7.36 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Chicago Bridge & Iron.
CBI has been the subject of a number of recent analyst reports. Deutsche Bank restated a “buy” rating and issued a $20.00 price objective (up previously from $16.00) on shares of Chicago Bridge & Iron in a research note on Tuesday, October 24th. Robert W. Baird reiterated a “hold” rating and set a $10.00 price target on shares of Chicago Bridge & Iron in a research note on Sunday, October 22nd. Jefferies Group set a $15.00 price target on Chicago Bridge & Iron and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Chicago Bridge & Iron from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, MKM Partners downgraded Chicago Bridge & Iron from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.07.
In other news, EVP Daniel M. Mccarthy sold 7,500 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $16.07, for a total transaction of $120,525.00. Following the completion of the transaction, the executive vice president now owns 89,964 shares in the company, valued at approximately $1,445,721.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fagan Associates Inc. purchased a new stake in Chicago Bridge & Iron during the 4th quarter worth about $737,000. State of Wisconsin Investment Board purchased a new stake in Chicago Bridge & Iron during the 4th quarter worth about $300,000. Global X Management Co. LLC lifted its holdings in Chicago Bridge & Iron by 75.4% during the 4th quarter. Global X Management Co. LLC now owns 6,971 shares of the construction company’s stock worth $113,000 after purchasing an additional 2,996 shares in the last quarter. First Trust Advisors LP lifted its holdings in Chicago Bridge & Iron by 23.3% during the 4th quarter. First Trust Advisors LP now owns 21,994 shares of the construction company’s stock worth $355,000 after purchasing an additional 4,159 shares in the last quarter. Finally, Alpine Associates Management Inc. purchased a new stake in Chicago Bridge & Iron during the 4th quarter worth about $3,825,000. 69.73% of the stock is currently owned by institutional investors and hedge funds.
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Chicago Bridge & Iron Company Profile
Chicago Bridge & Iron Company N.V. provides services to customers in energy infrastructure market. The Company provides services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.
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