Gabelli Weighs in on Colfax Corp’s FY2018 Earnings (CFX)
Colfax Corp (NYSE:CFX) – Research analysts at Gabelli reduced their FY2018 earnings per share estimates for Colfax in a report released on Wednesday. Gabelli analyst M. Trusz now expects that the industrial products company will post earnings of $2.10 per share for the year, down from their previous forecast of $2.20. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Colfax’s FY2019 earnings at $2.25 EPS and FY2020 earnings at $2.50 EPS.
Colfax (NYSE:CFX) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Colfax had a return on equity of 6.11% and a net margin of 4.28%. The firm had revenue of $874.00 million for the quarter, compared to analyst estimates of $894.02 million. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year.
Colfax (NYSE:CFX) traded down $0.41 during mid-day trading on Monday, hitting $32.63. The stock had a trading volume of 492,699 shares, compared to its average volume of 907,036. Colfax has a 52 week low of $31.50 and a 52 week high of $43.29. The company has a market cap of $4,000.00, a price-to-earnings ratio of -55.24, a P/E/G ratio of 1.11 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.80.
In related news, SVP A. Lynne Puckett sold 7,270 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president now owns 93,557 shares in the company, valued at $3,569,199.55. The disclosure for this sale can be found here. 10.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH acquired a new position in Colfax during the 4th quarter worth $9,187,000. Oakview Capital Management L.P. lifted its holdings in Colfax by 27.4% during the 4th quarter. Oakview Capital Management L.P. now owns 506,832 shares of the industrial products company’s stock worth $20,081,000 after buying an additional 108,891 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in Colfax during the 4th quarter worth $281,000. Centaurus Financial Inc. acquired a new position in Colfax during the 4th quarter worth $1,063,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in Colfax by 225.8% during the 4th quarter. Itau Unibanco Holding S.A. now owns 5,170 shares of the industrial products company’s stock worth $205,000 after buying an additional 3,583 shares in the last quarter. Institutional investors and hedge funds own 75.82% of the company’s stock.
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Colfax Company Profile
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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