Circor International Inc. (CIR) Expected to Post Q3 2016 Earnings of $0.44 Per Share
Circor International Inc. (NYSE:CIR) – Research analysts at Seaport Global Securities reduced their Q3 2016 earnings per share (EPS) estimates for shares of Circor International in a report released on Thursday. Seaport Global Securities analyst R. Cassil now forecasts that the brokerage will post earnings per share of $0.44 for the quarter, down from their prior estimate of $0.55. Seaport Global Securities also issued estimates for Circor International’s Q4 2016 earnings at $0.43 EPS and FY2016 earnings at $1.91 EPS.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Circor International from a “hold” rating to a “sell” rating in a research report on Friday. KeyCorp began coverage on Circor International in a research report on Tuesday, September 20th. They set a “sector weight” rating for the company. Finally, Stifel Nicolaus dropped their price target on Circor International from $68.00 to $61.00 and set a “buy” rating for the company in a research report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.50.
Circor International (NYSE:CIR) opened at 48.14 on Monday. Circor International has a 12-month low of $32.79 and a 12-month high of $62.87. The firm’s 50 day moving average price is $58.07 and its 200-day moving average price is $55.70. The company has a market capitalization of $790.60 million, a PE ratio of 118.86 and a beta of 1.39.
Circor International (NYSE:CIR) last released its earnings results on Friday, July 29th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The business earned $146.40 million during the quarter, compared to the consensus estimate of $144.01 million. Circor International had a net margin of 1.09% and a return on equity of 9.45%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS.
In related news, Director Douglas M. Hayes sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $61.17, for a total value of $183,510.00. Following the completion of the sale, the director now owns 14,556 shares in the company, valued at approximately $890,390.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. PineBridge Investments L.P. increased its stake in Circor International by 7.5% in the second quarter. PineBridge Investments L.P. now owns 2,083 shares of the company’s stock worth $119,000 after buying an additional 146 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Circor International by 104.7% in the second quarter. BNP Paribas Arbitrage SA now owns 5,411 shares of the company’s stock worth $308,000 after buying an additional 2,767 shares during the last quarter. Arizona State Retirement System increased its stake in Circor International by 2.4% in the second quarter. Arizona State Retirement System now owns 8,538 shares of the company’s stock worth $487,000 after buying an additional 200 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Circor International by 14.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,600 shares of the company’s stock worth $770,000 after buying an additional 2,100 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Circor International by 2.1% in the second quarter. California Public Employees Retirement System now owns 19,300 shares of the company’s stock worth $1,100,000 after buying an additional 400 shares during the last quarter.
Circor International Company Profile
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems, which are used in the oil and gas, power generation, aerospace, defense and other industrial markets. The Company operates through two segments: CIRCOR Energy (Energy), and CIRCOR Aerospace & Defense (Aerospace & Defense).
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