Wall Street brokerages expect Colfax Corp (NYSE:CFX) to report earnings of $0.60 per share for the current quarter, according to Zacks. Six analysts have made estimates for Colfax’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.62. Colfax reported earnings per share of $0.61 in the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The firm is expected to issue its next quarterly earnings results on Monday, August 5th.
On average, analysts expect that Colfax will report full year earnings of $2.55 per share for the current fiscal year, with EPS estimates ranging from $2.42 to $2.60. For the next financial year, analysts expect that the company will post earnings of $2.56 per share, with EPS estimates ranging from $2.17 to $2.91. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Colfax.
Colfax (NYSE:CFX) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.04 billion. Colfax had a return on equity of 8.16% and a net margin of 1.68%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS.
CFX has been the topic of a number of recent research reports. Goldman Sachs Group initiated coverage on Colfax in a research report on Friday, April 5th. They issued a “buy” rating and a $34.00 price objective on the stock. Raymond James reiterated a “buy” rating and issued a $21.00 price objective on shares of Colfax in a research report on Thursday, May 2nd. Morgan Stanley raised their price target on Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 10th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, CIBC restated a “hold” rating on shares of Just Energy Group in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $28.81.
CFX traded up $0.77 during mid-day trading on Monday, reaching $27.33. The stock had a trading volume of 1,904,748 shares, compared to its average volume of 1,072,559. The company has a market cap of $3.21 billion, a PE ratio of 11.83, a P/E/G ratio of 0.87 and a beta of 1.64. The company has a quick ratio of 1.06, a current ratio of 1.53 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $26.68. Colfax has a 52 week low of $18.95 and a 52 week high of $37.05.
In related news, insider Shyam Kambeyanda sold 11,764 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $26.27, for a total transaction of $309,040.28. Following the sale, the insider now owns 51,263 shares of the company’s stock, valued at approximately $1,346,679.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher M. Hix sold 4,750 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $27.08, for a total value of $128,630.00. Following the sale, the chief financial officer now directly owns 29,841 shares in the company, valued at approximately $808,094.28. The disclosure for this sale can be found here. 12.00% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of CFX. Macquarie Group Ltd. acquired a new stake in Colfax during the 4th quarter worth $27,000. Pinnacle Bank acquired a new stake in Colfax during the 4th quarter worth $36,000. Quadrant Capital Group LLC raised its stake in Colfax by 264.3% during the 1st quarter. Quadrant Capital Group LLC now owns 2,211 shares of the industrial products company’s stock worth $63,000 after buying an additional 1,604 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Colfax during the 2nd quarter worth $83,000. Finally, Toth Financial Advisory Corp acquired a new stake in Colfax during the 1st quarter worth $128,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.
Colfax Company Profile
Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.
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