Chicago Bridge & Iron (NYSE:CBI) shares shot up 0% during trading on Thursday . The stock traded as high as $18.03 and last traded at $17.94. 6,150,000 shares traded hands during trading, an increase of 59% from the average session volume of 3,870,000 shares. The stock had previously closed at $17.94.
Several brokerages have commented on CBI. DA Davidson downgraded Chicago Bridge & Iron from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Tuesday, December 19th. Macquarie upgraded Chicago Bridge & Iron from an “underperform” rating to a “neutral” rating in a report on Tuesday, December 19th. ValuEngine upgraded Chicago Bridge & Iron from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. Zacks Investment Research cut Chicago Bridge & Iron from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, MKM Partners cut Chicago Bridge & Iron from a “buy” rating to a “neutral” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $19.43.
The company has a market cap of $1,820.00, a price-to-earnings ratio of -1.86, a P/E/G ratio of 0.98 and a beta of 2.22.
Chicago Bridge & Iron (NYSE:CBI) last announced its earnings results on Monday, October 30th. The construction company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.19). Chicago Bridge & Iron had a negative net margin of 13.33% and a negative return on equity of 10.86%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. The business’s revenue was down 18.7% on a year-over-year basis. equities research analysts predict that Chicago Bridge & Iron will post -1.98 earnings per share for the current year.
In other Chicago Bridge & Iron news, EVP Daniel M. Mccarthy sold 7,500 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $16.29, for a total transaction of $122,175.00. Following the transaction, the executive vice president now directly owns 104,964 shares in the company, valued at approximately $1,709,863.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 22,500 shares of company stock worth $357,750 over the last quarter. 1.10% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Chicago Bridge & Iron by 47.1% during the 2nd 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 in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Chicago Bridge & Iron by 1,648.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,849 shares of the construction company’s stock worth $175,000 after buying an additional 8,343 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Chicago Bridge & Iron during the 3rd quarter worth approximately $176,000. Cubist Systematic Strategies LLC bought a new position in shares of Chicago Bridge & Iron during the 2nd quarter worth approximately $177,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Chicago Bridge & Iron during the third quarter worth approximately $196,000. Hedge funds and other institutional investors own 70.68% of the company’s stock.
About Chicago Bridge & Iron
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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