Deutsche Bank cut shares of Chicago Bridge & Iron (NYSE:CBI) from a buy rating to a hold rating in a report published on Wednesday, December 20th.
Several other research analysts have also recently commented on CBI. BidaskClub upgraded Chicago Bridge & Iron from a strong sell rating to a sell rating in a research note on Friday, August 25th. Bank of America set a $10.00 price target on Chicago Bridge & Iron and gave the stock a sell rating in a research note on Wednesday, August 30th. ValuEngine cut Chicago Bridge & Iron from a sell rating to a strong sell rating in a research note on Friday, September 1st. Credit Suisse Group restated a hold rating and set a $13.00 price objective on shares of Chicago Bridge & Iron in a research note on Wednesday, September 13th. Finally, Vertical Research restated a buy rating and set a $20.00 price objective on shares of Chicago Bridge & Iron in a research note on Thursday, September 14th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $19.43.
Shares of Chicago Bridge & Iron (NYSE CBI) traded up $0.37 on Wednesday, hitting $18.69. The company’s stock had a trading volume of 3,683,400 shares, compared to its average volume of 4,240,000. The firm has a market capitalization of $1,900.00, a PE ratio of -1.94, a PEG ratio of 1.05 and a beta of 2.22. Chicago Bridge & Iron has a 12 month low of $9.55 and a 12 month high of $36.15.
Chicago Bridge & Iron (NYSE:CBI) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.19). Chicago Bridge & Iron had a negative return on equity of 10.86% and a negative net margin of 13.33%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue for the quarter was down 18.7% compared to the same quarter last year. equities research analysts expect that Chicago Bridge & Iron will post -1.98 EPS for the current fiscal year.
In related 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 value of $122,175.00. Following the completion of the transaction, the executive vice president now directly owns 104,964 shares of the company’s stock, valued at approximately $1,709,863.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 22,500 shares of company stock valued at $357,750 over the last three months. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBI. Northwestern Mutual Wealth Management Co. lifted its position in Chicago Bridge & Iron by 47.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,697 shares of the construction company’s stock worth $152,000 after purchasing an additional 2,466 shares during the period. Ameritas Investment Partners Inc. lifted its position in Chicago Bridge & Iron by 1,648.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,849 shares of the construction company’s stock worth $175,000 after purchasing an additional 8,343 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in Chicago Bridge & Iron in the third quarter worth approximately $176,000. Cubist Systematic Strategies LLC acquired a new stake in Chicago Bridge & Iron in the second quarter worth approximately $177,000. Finally, Wedbush Securities Inc. acquired a new stake in Chicago Bridge & Iron in the third quarter worth approximately $196,000. Hedge funds and other institutional investors own 70.68% of the company’s stock.
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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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