Gabelli Comments on Colfax Corp’s FY2018 Earnings (CFX)

Colfax Corp (NYSE:CFX) – Analysts at Gabelli decreased their FY2018 earnings per share estimates for shares of Colfax in a research report issued on Wednesday. Gabelli analyst M. Trusz now expects that the industrial products company will earn $2.10 per share for the year, down from their previous forecast of $2.20. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Colfax’s FY2019 earnings at $2.25 EPS and FY2020 earnings at $2.50 EPS.

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

Several other brokerages have also recently issued reports on CFX. Zacks Investment Research cut Colfax from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective on shares of Colfax in a report on Tuesday, October 17th. Robert W. Baird reaffirmed a “buy” rating and set a $50.00 price objective on shares of Colfax in a report on Friday, October 27th. Cowen cut Colfax from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 18th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $44.00 price objective 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $44.40.

Shares of Colfax (NYSE CFX) opened at $32.27 on Monday. The company has a quick ratio of 1.47, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $3,977.14, a P/E ratio of 26.67, a PEG ratio of 1.11 and a beta of 1.17. Colfax has a 1-year low of $31.50 and a 1-year high of $43.29.

A number of institutional investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. purchased a new position in Colfax during the fourth quarter worth $1,063,000. Itau Unibanco Holding S.A. increased its position in Colfax by 225.8% during the fourth quarter. Itau Unibanco Holding S.A. now owns 5,170 shares of the industrial products company’s stock worth $205,000 after buying an additional 3,583 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Colfax by 1.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 303,183 shares of the industrial products company’s stock worth $12,012,000 after buying an additional 4,600 shares in the last quarter. Bank of New York Mellon Corp increased its position in Colfax by 3.6% during the fourth quarter. Bank of New York Mellon Corp now owns 355,549 shares of the industrial products company’s stock worth $14,086,000 after buying an additional 12,518 shares in the last quarter. Finally, Swiss National Bank increased its position in Colfax by 1.9% during the fourth quarter. Swiss National Bank now owns 157,200 shares of the industrial products company’s stock worth $6,228,000 after buying an additional 3,000 shares in the last quarter. 75.82% of the stock is owned by institutional investors.

In other Colfax news, 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 transaction of $2,034,653.95. Following the completion of the transaction, the executive vice president now owns 93,557 shares of the company’s stock, valued at $3,569,199.55. The transaction 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 on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total value of $305,412.70. The disclosure for this sale can be found here. 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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