Equities Analysts Offer Predictions for Colfax Corp’s FY2017 Earnings (CFX)
Colfax Corp (NYSE:CFX) – Northcoast Research decreased their FY2017 earnings per share (EPS) estimates for Colfax in a research note issued to investors on Thursday. Northcoast Research analyst T. Hayes now anticipates that the industrial products company will post earnings per share of $1.69 for the year, down from their prior forecast of $1.72. Northcoast Research also issued estimates for Colfax’s Q4 2017 earnings at $0.41 EPS, Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.62 EPS and FY2019 earnings at $2.27 EPS.
Several other analysts also recently weighed in on CFX. Stifel Nicolaus restated a “buy” rating and set a $50.00 price objective on shares of Colfax in a research report on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $45.00 target price on shares of Colfax in a report on Wednesday, September 27th. Cowen reaffirmed a “buy” rating and issued a $50.00 target price on shares of Colfax in a report on Tuesday, September 26th. KeyCorp reaffirmed a “buy” rating and issued a $46.00 target price on shares of Colfax in a report on Tuesday, September 26th. Finally, Zacks Investment Research cut Colfax from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.80.
Shares of Colfax (CFX) opened at $38.85 on Friday. The firm has a market capitalization of $4,780.00, a price-to-earnings ratio of 31.33, a PEG ratio of 2.28 and a beta of 1.26. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. Colfax has a 1 year low of $33.31 and a 1 year high of $43.29.
Colfax (NYSE:CFX) last released its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $844.50 million during the quarter, compared to the consensus estimate of $901.09 million. Colfax had a return on equity of 6.26% and a net margin of 4.89%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS.
Several hedge funds have recently bought and sold shares of CFX. Principal Financial Group Inc. increased its position in Colfax by 1.1% in the second quarter. Principal Financial Group Inc. now owns 8,956,040 shares of the industrial products company’s stock worth $352,600,000 after buying an additional 95,361 shares during the last quarter. Vanguard Group Inc. increased its position in Colfax by 0.4% in the second quarter. Vanguard Group Inc. now owns 6,625,006 shares of the industrial products company’s stock worth $260,827,000 after buying an additional 28,081 shares during the last quarter. BlackRock Inc. increased its position in Colfax by 1.7% in the second quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock worth $164,353,000 after buying an additional 70,676 shares during the last quarter. Wells Fargo & Company MN increased its position in Colfax by 97.2% in the third quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock worth $123,239,000 after buying an additional 1,458,683 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Colfax by 82.2% in the third quarter. Victory Capital Management Inc. now owns 2,897,556 shares of the industrial products company’s stock worth $120,655,000 after buying an additional 1,306,927 shares during the last quarter. Institutional investors own 74.86% of the company’s stock.
In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total value of $2,034,653.95. Following the transaction, the executive vice president now owns 93,557 shares in the company, valued at $3,569,199.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.60% of the stock is currently owned by corporate insiders.
Colfax Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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