CIRCOR International (NYSE:CIR) posted its quarterly earnings results on Thursday. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01), Briefing.com reports. CIRCOR International had a negative net margin of 4.81% and a positive return on equity of 7.47%. The business had revenue of $269.61 million during the quarter, compared to analyst estimates of $277.06 million. During the same period in the previous year, the business posted $0.57 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. CIRCOR International updated its Q3 guidance to $0.52-0.60 EPS.
NYSE:CIR traded down $1.21 during trading hours on Friday, hitting $37.72. 259,058 shares of the company traded hands, compared to its average volume of 383,441. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.43 and a current ratio of 2.24. The business’s 50-day simple moving average is $42.88. CIRCOR International has a one year low of $19.73 and a one year high of $48.70. The firm has a market cap of $774.74 million, a P/E ratio of 17.88 and a beta of 2.09.
CIR has been the topic of several recent analyst reports. TheStreet upgraded CIRCOR International from a “d+” rating to a “c-” rating in a research note on Friday, May 31st. Citigroup dropped their price objective on CIRCOR International from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday. ValuEngine cut CIRCOR International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Sidoti upgraded CIRCOR International from a “neutral” rating to a “buy” rating in a research note on Thursday, July 18th. Finally, Zacks Investment Research upgraded CIRCOR International from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective on the stock in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $44.25.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in shares of CIRCOR International during the 2nd quarter worth $31,000. BNP Paribas Arbitrage SA raised its stake in shares of CIRCOR International by 248.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,848 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 2,744 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of CIRCOR International by 345.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,544 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 4,300 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in shares of CIRCOR International during the 4th quarter worth $122,000. Finally, SG Americas Securities LLC bought a new stake in shares of CIRCOR International during the 1st quarter worth $242,000.
About CIRCOR International
CIRCOR International, Inc designs, manufactures, and markets engineered products and sub-systems worldwide. It operates through three segments: Energy, Aerospace and Defense, and Industrial. The Energy segment offers a range of flow control solutions and services, including valves, such as engineered trunion and floating ball valves; gate, globe, and check valves; and butterfly valves, as well as delayed coking unheading devices and fluid catalytic converter and isolation valves.
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