Colfax (NYSE:CFX) Issues FY 2021 Earnings Guidance

Colfax (NYSE:CFX) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $2.100-$2.100 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.150. The company issued revenue guidance of -.

A number of brokerages have issued reports on CFX. Barclays decreased their target price on shares of Colfax from $44.00 to $43.00 and set an underweight rating for the company in a research note on Monday, October 4th. Seaport Res Ptn reaffirmed a buy rating on shares of Colfax in a research note on Monday, August 2nd. The Goldman Sachs Group lowered shares of Colfax from a buy rating to a neutral rating and reduced their price objective for the company from $53.00 to $51.00 in a research note on Friday, September 10th. KeyCorp lifted their price objective on shares of Colfax from $57.00 to $60.00 and gave the company an overweight rating in a research note on Friday, November 5th. Finally, Argus lifted their price objective on shares of Colfax from $50.00 to $56.00 and gave the company a buy rating in a research note on Monday, August 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $50.86.

CFX traded down $0.66 during trading on Thursday, hitting $50.04. The stock had a trading volume of 526,200 shares, compared to its average volume of 1,326,094. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 70.48, a PEG ratio of 0.95 and a beta of 2.18. Colfax has a 12 month low of $34.94 and a 12 month high of $54.67. The company has a current ratio of 1.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.35. The company has a 50 day simple moving average of $48.87.

Colfax (NYSE:CFX) last announced its earnings results on Thursday, November 4th. The industrial products company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $965.89 million for the quarter, compared to the consensus estimate of $958.44 million. Colfax had a net margin of 2.92% and a return on equity of 7.28%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. As a group, research analysts forecast that Colfax will post 2.12 EPS for the current year.

In other news, CEO Matthew L. Trerotola sold 59,563 shares of the business’s stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $46.66, for a total transaction of $2,779,209.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rajiv Vinnakota sold 2,213 shares of the business’s stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $46.76, for a total transaction of $103,479.88. The disclosure for this sale can be found here. Insiders sold a total of 215,823 shares of company stock worth $10,848,261 in the last quarter. Insiders own 9.60% of the company’s stock.

A hedge fund recently raised its stake in Colfax stock. UBS Group AG raised its position in Colfax Co. (NYSE:CFX) by 9.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,528 shares of the industrial products company’s stock after buying an additional 5,022 shares during the period. UBS Group AG’s holdings in Colfax were worth $2,732,000 as of its most recent SEC filing. 95.87% of the stock is owned by hedge funds and other institutional investors.

Colfax Company Profile

Colfax Corp. operates as a diversified technology company. The firm provides orthopedic care and fabrication technology products and services to customers. It operates through the following segments: Medical Technology and Fabrication Technology. The Medical Technology segment develops, manufactures and distributes medical devices used for rehabilitation, pain management and physical therapy.

Further Reading: Systematic Risk and Investors

Earnings History and Estimates for Colfax (NYSE:CFX)

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