Chicago Bridge & Iron (CBI) Sees Unusually-High Trading Volume

Shares of Chicago Bridge & Iron (NYSE:CBI) saw strong trading volume on Tuesday . 13,890,180 shares changed hands during trading, an increase of 316% from the previous session’s volume of 3,341,529 shares.The stock last traded at $15.16 and had previously closed at $15.16.

A number of research analysts have recently issued reports on the company. Robert W. Baird reaffirmed a “hold” rating and set a $16.00 price objective on shares of Chicago Bridge & Iron in a research note on Monday, April 9th. ValuEngine cut Chicago Bridge & Iron from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 28th. Zacks Investment Research cut Chicago Bridge & Iron from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. KeyCorp raised Chicago Bridge & Iron to an “overweight” rating and set a $14.00 target price on the stock in a research note on Wednesday, January 24th. Finally, MKM Partners cut Chicago Bridge & Iron from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 3rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.29.

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The stock has a market cap of $1,550.55, a price-to-earnings ratio of -8.06, a P/E/G ratio of 0.94 and a beta of 2.44.

Chicago Bridge & Iron (NYSE:CBI) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Chicago Bridge & Iron had a negative return on equity of 17.65% and a negative net margin of 20.60%. analysts expect that Chicago Bridge & Iron will post 1.8 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc boosted its position in Chicago Bridge & Iron by 23.4% during the 3rd quarter. Legal & General Group Plc now owns 122,711 shares of the construction company’s stock valued at $2,060,000 after acquiring an additional 23,238 shares in the last quarter. Global X Management Co. LLC boosted its position in Chicago Bridge & Iron by 75.4% during the 4th quarter. Global X Management Co. LLC now owns 6,971 shares of the construction company’s stock valued at $113,000 after acquiring an additional 2,996 shares in the last quarter. BlackRock Inc. boosted its position in Chicago Bridge & Iron by 2.1% during the 4th quarter. BlackRock Inc. now owns 6,578,196 shares of the construction company’s stock valued at $106,172,000 after acquiring an additional 135,848 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Chicago Bridge & Iron by 21.0% during the fourth quarter. Clearbridge Investments LLC now owns 125,364 shares of the construction company’s stock valued at $2,023,000 after purchasing an additional 21,758 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Chicago Bridge & Iron by 141.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 22,879 shares of the construction company’s stock valued at $369,000 after purchasing an additional 13,405 shares during the last quarter. 63.74% of the stock is currently owned by institutional investors and hedge funds.

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Chicago Bridge & Iron Company Profile

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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