Wall Street analysts predict that Colfax Corp (NYSE:CFX) will post $882.16 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Colfax’s earnings, with estimates ranging from $878.20 million to $894.00 million. Colfax reported sales of $985.23 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.5%. The business is scheduled to report its next earnings results on Wednesday, February 12th.
On average, analysts expect that Colfax will report full year sales of $3.44 billion for the current financial year, with estimates ranging from $3.32 billion to $3.66 billion. For the next fiscal year, analysts expect that the business will post sales of $3.50 billion, with estimates ranging from $3.42 billion to $3.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Colfax.
Colfax (NYSE:CFX) last posted its earnings results on Thursday, October 31st. The industrial products company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The firm had revenue of $846.52 million for the quarter, compared to analyst estimates of $852.39 million. Colfax had a positive return on equity of 9.06% and a negative net margin of 12.40%. The company’s revenue for the quarter was up 61.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share.
Several research analysts have weighed in on the company. Scotiabank upgraded Colfax to a “sector outperform” rating in a report on Thursday, September 26th. Robert W. Baird lifted their target price on Colfax from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Deutsche Bank lifted their target price on Colfax from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. TD Securities reduced their target price on Colfax from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Cowen lifted their price target on Colfax from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. Colfax has a consensus rating of “Buy” and an average target price of $30.80.
CFX stock traded down $0.16 during midday trading on Wednesday, hitting $38.07. 949,323 shares of the company’s stock were exchanged, compared to its average volume of 908,702. The stock’s fifty day moving average price is $35.86 and its 200-day moving average price is $30.77. 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 company has a market cap of $4.48 billion, a PE ratio of -11.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.65. Colfax has a one year low of $22.91 and a one year high of $38.88.
In other Colfax news, SVP Shyam Kambeyanda sold 4,100 shares of Colfax 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 document filed with the Securities & Exchange Commission, which is accessible 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 sale, the executive vice president now directly owns 79,689 shares in the company, valued at approximately $2,655,237.48. The disclosure for this sale can be found here. Insiders sold a total of 31,242 shares of company stock worth $1,130,773 in the last three months. Company insiders own 12.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of Colfax by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 911,550 shares of the industrial products company’s stock worth $25,550,000 after acquiring an additional 58,422 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Colfax by 12.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 28,278 shares of the industrial products company’s stock worth $793,000 after purchasing an additional 3,032 shares during the period. Northern Trust Corp raised its position in Colfax by 1.1% in the 2nd quarter. Northern Trust Corp now owns 739,863 shares of the industrial products company’s stock worth $20,738,000 after purchasing an additional 8,242 shares during the period. Commonwealth Bank of Australia raised its position in Colfax by 60.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 17,600 shares of the industrial products company’s stock worth $493,000 after purchasing an additional 6,600 shares during the period. Finally, Meadow Creek Investment Management LLC purchased a new position in Colfax in the 2nd quarter worth $332,000. 98.52% of the stock is currently owned by institutional investors and hedge funds.
Colfax Company Profile
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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