Chicago Bridge & Iron Company N.V. (NYSE:CBI)’s share price hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $10.86 and last traded at $10.61, with a volume of 20,450,849 shares traded. The stock had previously closed at $16.33.

The construction company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of $0.85 by $3.81. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Chicago Bridge & Iron Company N.V. had a negative return on equity of 3.59% and a negative net margin of 10.54%. The business’s quarterly revenue was down 40.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 EPS.

Several research firms recently weighed in on CBI. Credit Suisse Group restated a “neutral” rating and issued a $13.00 price target on shares of Chicago Bridge & Iron Company N.V. in a research note on Friday. ValuEngine downgraded Chicago Bridge & Iron Company N.V. from a “hold” rating to a “sell” rating in a research note on Friday. DA Davidson restated a “buy” rating and issued a $25.00 price target (down previously from $40.00) on shares of Chicago Bridge & Iron Company N.V. in a research note on Thursday. Deutsche Bank AG set a $21.00 target price on Chicago Bridge & Iron Company N.V. and gave the company a “buy” rating in a research note on Thursday. Finally, Robert W. Baird set a $10.00 target price on Chicago Bridge & Iron Company N.V. and gave the company a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $26.16.

Several institutional investors have recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management increased its position in Chicago Bridge & Iron Company N.V. by 14.8% in the second quarter. Hanson & Doremus Investment Management now owns 5,050 shares of the construction company’s stock worth $100,000 after buying an additional 650 shares during the period. Clearbridge Investments LLC increased its position in Chicago Bridge & Iron Company N.V. by 8.5% in the first quarter. Clearbridge Investments LLC now owns 3,820 shares of the construction company’s stock worth $117,000 after buying an additional 300 shares during the period. Brick & Kyle Associates increased its position in Chicago Bridge & Iron Company N.V. by 14.5% in the first quarter. Brick & Kyle Associates now owns 3,950 shares of the construction company’s stock worth $121,000 after buying an additional 500 shares during the period. Chicago Partners Investment Group LLC increased its position in Chicago Bridge & Iron Company N.V. by 907.6% in the second quarter. Chicago Partners Investment Group LLC now owns 6,600 shares of the construction company’s stock worth $130,000 after buying an additional 5,945 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Chicago Bridge & Iron Company N.V. by 47.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,697 shares of the construction company’s stock worth $152,000 after buying an additional 2,466 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.

The stock’s market cap is $1.19 billion. The stock has a 50-day moving average price of $17.53 and a 200-day moving average price of $25.08. Chicago Bridge & Iron Company N.V. also was the recipient of some unusual options trading activity on Wednesday. Investors acquired 896 call options on the company. This is an increase of 197% compared to the typical daily volume of 302 call options.

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Chicago Bridge & Iron Company N.V. 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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