Wall Street analysts predict that Colfax Corp (NYSE:CFX) will announce earnings per share of $0.56 for the current quarter, Zacks reports. Six analysts have provided estimates for Colfax’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.46. Colfax posted earnings of $0.69 per share during the same quarter last year, which would indicate a negative year over year growth rate of 18.8%. The company is expected to announce its next earnings results on Wednesday, February 12th.
On average, analysts expect that Colfax will report full year earnings of $1.98 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.03. For the next financial year, analysts forecast that the firm will report earnings of $2.25 per share, with EPS estimates ranging from $2.15 to $2.49. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Colfax.
Colfax (NYSE:CFX) last announced its earnings results on Thursday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. Colfax had a negative net margin of 12.40% and a positive return on equity of 9.06%. The company had revenue of $846.52 million during the quarter, compared to analyst estimates of $852.39 million. During the same period in the previous year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was up 61.5% compared to the same quarter last year.
Several equities research analysts have recently commented on the company. Seaport Global Securities restated a “buy” rating on shares of Colfax in a research note on Monday, August 12th. Bank of America upgraded shares of Colfax from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $27.00 to $37.00 in a report on Monday, November 4th. Cowen increased their price objective on shares of Colfax from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada dropped their target price on shares of Colfax from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Finally, Scotiabank raised Colfax to a “sector outperform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.87.
In other Colfax news, SVP Shyam Kambeyanda sold 4,100 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $36.06, for a total value of $147,846.00. Following the sale, the senior vice president now owns 47,163 shares of the company’s stock, valued at approximately $1,700,697.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel A. Pryor sold 4,825 shares of Colfax stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $33.32, for a total value of $160,769.00. Following the completion of the transaction, the executive vice president now owns 79,689 shares of the company’s stock, valued at approximately $2,655,237.48. The disclosure for this sale can be found here. 12.00% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in Colfax by 176.4% in the second quarter. Parallel Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $35,000 after buying an additional 799 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of Colfax during the 3rd quarter worth about $82,000. Nisa Investment Advisors LLC acquired a new position in shares of Colfax during the 2nd quarter worth about $83,000. Dupont Capital Management Corp purchased a new position in shares of Colfax in the 3rd quarter valued at about $218,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Colfax in the 3rd quarter valued at about $225,000. 99.06% of the stock is owned by institutional investors and hedge funds.
Shares of Colfax stock traded up $1.15 on Friday, hitting $34.58. 50,962 shares of the company’s stock were exchanged, compared to its average volume of 1,471,568. Colfax has a 1 year low of $18.95 and a 1 year high of $36.63. The company has a 50-day simple moving average of $32.91 and a 200-day simple moving average of $28.58. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.94 and a current ratio of 2.32. The stock has a market capitalization of $3.97 billion, a PE ratio of 14.95, a PEG ratio of 2.56 and a beta of 1.64.
Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.
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