Chicago Bridge & Iron (NYSE:CBI) announced its earnings results on Tuesday. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02, Briefing.com reports. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.82 billion. Chicago Bridge & Iron had a negative net margin of 13.33% and a negative return on equity of 10.86%. The firm’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 earnings per share.
Chicago Bridge & Iron (NYSE:CBI) opened at $18.68 on Wednesday. Chicago Bridge & Iron has a 12-month low of $9.55 and a 12-month high of $35.45.
Several brokerages recently issued reports on CBI. Jefferies Group set a $15.00 target price on shares of Chicago Bridge & Iron and gave the company a “hold” rating in a research report on Tuesday, October 31st. Zacks Investment Research lowered shares of Chicago Bridge & Iron from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 4th. Robert W. Baird set a $17.00 target price on shares of Chicago Bridge & Iron and gave the company a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine lowered shares of Chicago Bridge & Iron from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, MKM Partners lowered shares of Chicago Bridge & Iron from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 3rd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Chicago Bridge & Iron has an average rating of “Hold” and a consensus price target of $19.07.
In other Chicago Bridge & Iron news, EVP Daniel M. Mccarthy sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $16.07, for a total value of $120,525.00. Following the completion of the transaction, the executive vice president now directly owns 89,964 shares in the company, valued at $1,445,721.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% 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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