Zacks: Brokerages Anticipate Colfax Corp (CFX) Will Post Quarterly Sales of $817.34 Million

Wall Street brokerages forecast that Colfax Corp (NYSE:CFX) will report $817.34 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Colfax’s earnings, with the highest sales estimate coming in at $852.60 million and the lowest estimate coming in at $771.40 million. Colfax posted sales of $844.93 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The company is expected to report its next earnings results on Friday, May 4th.

On average, analysts expect that Colfax will report full year sales of $817.34 million for the current year, with estimates ranging from $3.52 billion to $3.67 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.76 billion per share, with estimates ranging from $3.70 billion to $3.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Colfax.

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

CFX has been the topic of several recent analyst reports. Royal Bank of Canada restated a “buy” rating and set a $44.00 target price on shares of Colfax in a research report on Tuesday, November 7th. Longbow Research upgraded shares of Colfax from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 21st. Cowen lowered shares of Colfax from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 18th. Stifel Nicolaus restated a “buy” rating and set a $48.00 target price (up from $44.00) on shares of Colfax in a research report on Tuesday, January 16th. Finally, Zacks Investment Research upgraded shares of Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $44.40.

Colfax (NYSE CFX) opened at $33.22 on Thursday. The stock has a market cap of $4,062.18, a PE ratio of 19.98, a P/E/G ratio of 1.16 and a beta of 1.17. Colfax has a 1-year low of $31.50 and a 1-year high of $43.29. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38.

In other news, EVP Daniel A. Pryor sold 53,333 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 93,557 shares in the company, valued at $3,569,199.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP A. Lynne Puckett sold 7,270 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were 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. 10.60% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Crestline Management LP acquired a new stake in shares of Colfax in the fourth quarter valued at approximately $2,739,000. TIAA CREF Investment Management LLC grew its position in shares of Colfax by 0.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,199,286 shares of the industrial products company’s stock valued at $47,516,000 after purchasing an additional 10,230 shares during the last quarter. Raymond James & Associates grew its position in shares of Colfax by 118.2% in the fourth quarter. Raymond James & Associates now owns 104,463 shares of the industrial products company’s stock valued at $4,139,000 after purchasing an additional 56,593 shares during the last quarter. Van Den Berg Management I Inc. grew its position in shares of Colfax by 7.0% in the fourth quarter. Van Den Berg Management I Inc. now owns 1,163,515 shares of the industrial products company’s stock valued at $46,098,000 after purchasing an additional 76,484 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Colfax by 75.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,797,651 shares of the industrial products company’s stock valued at $71,222,000 after purchasing an additional 774,964 shares during the last quarter. Institutional investors and hedge funds own 75.82% 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.

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