Colfax (CFX) Issues FY18 Earnings Guidance

Colfax (NYSE:CFX) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.00-2.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.08.

Colfax (NYSE:CFX) traded down $0.21 during trading hours on Wednesday, reaching $32.75. The company’s stock had a trading volume of 98,986 shares, compared to its average volume of 897,479. Colfax has a 1 year low of $31.50 and a 1 year high of $43.29. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4,072.04, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.14 and a beta of 1.17.

Colfax (NYSE:CFX) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $894.02 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. equities analysts expect that Colfax will post 2.11 earnings per share for the current year.

A number of research analysts have issued reports on CFX shares. Stifel Nicolaus decreased their target price on Colfax from $48.00 to $40.00 and set a buy rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada reissued a buy rating and issued a $44.00 target price on shares of Colfax in a research note on Tuesday, November 7th. Robert W. Baird reissued a buy rating and issued a $50.00 target price on shares of Colfax in a research note on Friday, October 27th. Longbow Research upgraded Colfax from a neutral rating to a buy rating in a report on Tuesday, November 21st. Finally, Gabelli upgraded Colfax from a hold rating to a buy rating in a report on Wednesday, February 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $44.40.

In other news, SVP A. Lynne Puckett sold 7,270 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total value of $305,412.70. The sale 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 business’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total value of $2,034,653.95. Following the completion of 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. Insiders own 10.60% of the company’s stock.

A hedge fund recently raised its stake in Colfax stock. The Manufacturers Life Insurance Company increased its stake in shares of Colfax Corp (NYSE:CFX) by 7.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,688 shares of the industrial products company’s stock after acquiring an additional 251 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Colfax were worth $145,000 as of its most recent filing with the SEC. 75.82% of the stock is owned by institutional investors.

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About Colfax

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.

Earnings History and Estimates for Colfax (NYSE:CFX)

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