Analysts expect Colfax Co. (NYSE:CFX) to post $813.82 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Colfax’s earnings. The highest sales estimate is $852.60 million and the lowest is $771.40 million. Colfax reported sales of $844.93 million in the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The company is expected to announce its next quarterly earnings results on Friday, May 4th.
According to Zacks, analysts expect that Colfax will report full-year sales of $813.82 million for the current year, with estimates ranging from $3.52 billion to $3.67 billion. For the next financial year, analysts anticipate that the business will post sales of $3.76 billion per share, with estimates ranging from $3.70 billion to $3.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Colfax.
Colfax (NYSE:CFX) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Colfax had a return on equity of 5.95% and a net margin of 4.28%. The company had revenue of $874.00 million for the quarter, compared to analysts’ expectations of $894.02 million. During the same period last year, the business earned $0.46 EPS. Colfax’s quarterly revenue was up 7.6% compared to the same quarter last year.
CFX has been the topic of a number of recent research reports. Argus reiterated a “buy” rating and issued a $33.36 target price (down from $40.00) on shares of Colfax in a report on Thursday, February 22nd. Robert W. Baird cut their target price on Colfax from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price target (up from $44.00) on shares of Colfax in a research report on Tuesday, January 16th. Gabelli raised Colfax from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Finally, ValuEngine lowered Colfax from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $41.44.
In other news, SVP A. Lynne Puckett sold 7,270 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total transaction of $305,412.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ian Brander sold 1,240 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $33.46, for a total value of $41,490.40. The disclosure for this sale can be found here. Insiders sold a total of 11,445 shares of company stock valued at $444,983 over the last three months. 10.60% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of Colfax by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 251 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Colfax during the 3rd quarter valued at $177,000. Itau Unibanco Holding S.A. increased its position in shares of Colfax by 225.8% during the 4th quarter. Itau Unibanco Holding S.A. now owns 5,170 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 3,583 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Colfax by 49.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,264 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 1,731 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Colfax during the 4th quarter valued at $249,000. 77.54% of the stock is owned by hedge funds and other institutional investors.
Shares of CFX traded up $0.04 during trading hours on Friday, reaching $31.41. The stock had a trading volume of 491,165 shares, compared to its average volume of 817,372. Colfax has a 12 month low of $29.94 and a 12 month high of $43.29. The company has a quick ratio of 1.49, a current ratio of 1.89 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3,824.40, a P/E ratio of 18.05, a P/E/G ratio of 1.10 and a beta of 1.26.
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Colfax Company Profile
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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