Analysts predict that Colfax Co. (NYSE:CFX) will post $951.78 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Colfax’s earnings, with estimates ranging from $932.30 million to $981.20 million. Colfax posted sales of $965.83 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.5%. The business is scheduled to issue its next earnings results on Friday, July 27th.
On average, analysts expect that Colfax will report full year sales of $3.70 billion for the current financial year, with estimates ranging from $3.66 billion to $3.79 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.86 billion per share, with estimates ranging from $3.77 billion to $4.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Colfax.
Colfax (NYSE:CFX) last issued its earnings results on Thursday, May 3rd. The industrial products company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. The company had revenue of $881.00 million during the quarter, compared to analysts’ expectations of $822.75 million. Colfax had a net margin of 3.84% and a return on equity of 6.13%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.
Several brokerages have commented on CFX. Citigroup dropped their target price on shares of Colfax from $30.00 to $28.00 and set a “sell” rating for the company in a research report on Friday, May 4th. Oppenheimer reiterated a “hold” rating on shares of Colfax in a research report on Thursday, May 3rd. Stifel Nicolaus dropped their target price on shares of Colfax from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, May 4th. ValuEngine cut shares of Colfax from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, KeyCorp dropped their target price on shares of Colfax from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, May 4th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Colfax currently has an average rating of “Hold” and a consensus target price of $40.48.
Shares of Colfax traded up $0.03, hitting $32.43, on Friday, MarketBeat reports. 10,157 shares of the company’s stock traded hands, compared to its average volume of 791,114. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.02 and a beta of 1.27. Colfax has a one year low of $32.35 and a one year high of $32.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.52 and a current ratio of 1.97.
In related news, SVP A. Lynne Puckett sold 770 shares of the company’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 $25,764.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel A. Pryor sold 1,682 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.46, for a total transaction of $56,279.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,175 shares of company stock valued at $139,570. 10.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arlington Partners LLC acquired a new position in Colfax in the 4th quarter worth $1,243,000. Eqis Capital Management Inc. boosted its stake in Colfax by 10.8% in the 4th quarter. Eqis Capital Management Inc. now owns 14,986 shares of the industrial products company’s stock worth $594,000 after purchasing an additional 1,455 shares during the period. Bank of New York Mellon Corp boosted its stake in Colfax by 3.6% in the 4th quarter. Bank of New York Mellon Corp now owns 355,549 shares of the industrial products company’s stock worth $14,086,000 after purchasing an additional 12,518 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Colfax by 49.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,264 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 1,731 shares during the period. Finally, Swiss National Bank boosted its stake in Colfax by 1.9% in the 4th quarter. Swiss National Bank now owns 157,200 shares of the industrial products company’s stock worth $6,228,000 after purchasing an additional 3,000 shares during the period. 77.48% of the stock is owned by hedge funds and other institutional investors.
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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