Chicago Bridge & Iron Company N.V. (NYSE:CBI)’s share price was down 13.8% during mid-day trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $13.76 and last traded at $13.94. Approximately 11,779,397 shares were traded during mid-day trading, an increase of 185% from the average daily volume of 4,128,590 shares. The stock had previously closed at $16.18.

The construction company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.19). The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.80 billion. Chicago Bridge & Iron Company N.V. had a negative return on equity of 3.92% and a negative net margin of 10.54%. Chicago Bridge & Iron Company N.V.’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 earnings per share.

Several equities analysts have recently issued reports on CBI shares. KeyCorp restated a “hold” rating on shares of Chicago Bridge & Iron Company N.V. in a research report on Friday, September 22nd. Credit Suisse Group lowered Chicago Bridge & Iron Company N.V. from an “outperform” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Monday, July 24th. Deutsche Bank AG restated a “buy” rating and set a $20.00 target price (up from $16.00) on shares of Chicago Bridge & Iron Company N.V. in a research report on Tuesday, October 24th. BidaskClub lowered Chicago Bridge & Iron Company N.V. from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, MKM Partners restated a “buy” rating and set a $21.00 target price (up from $17.00) on shares of Chicago Bridge & Iron Company N.V. in a research report on Wednesday, October 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $20.92.

In other Chicago Bridge & Iron Company N.V. news, insider Daniel M. Mccarthy sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $16.04, for a total value of $120,300.00. Following the sale, the insider now owns 112,464 shares in the company, valued at approximately $1,803,922.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBI. Teachers Advisors LLC lifted its stake in Chicago Bridge & Iron Company N.V. by 9.2% in the 1st quarter. Teachers Advisors LLC now owns 144,719 shares of the construction company’s stock valued at $4,450,000 after acquiring an additional 12,219 shares in the last quarter. Vanguard Group Inc. lifted its stake in Chicago Bridge & Iron Company N.V. by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 8,368,949 shares of the construction company’s stock valued at $257,345,000 after acquiring an additional 308,397 shares in the last quarter. Geode Capital Management LLC lifted its stake in Chicago Bridge & Iron Company N.V. by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 801,421 shares of the construction company’s stock valued at $24,643,000 after acquiring an additional 42,391 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Chicago Bridge & Iron Company N.V. by 80.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,767,093 shares of the construction company’s stock valued at $54,337,000 after acquiring an additional 787,219 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Chicago Bridge & Iron Company N.V. by 3,280.3% in the 1st quarter. BlackRock Inc. now owns 4,175,222 shares of the construction company’s stock valued at $128,389,000 after acquiring an additional 4,051,706 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

The company’s 50 day moving average is $16.05 and its 200-day moving average is $18.08. The stock’s market cap is $1.41 billion.

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About Chicago Bridge & Iron Company N.V.

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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