Circor International Inc. (CIR) Forecasted to Earn FY2017 Earnings of $2.65 Per Share
Circor International Inc. (NYSE:CIR) – Equities researchers at Gabelli dropped their FY2017 EPS estimates for shares of Circor International in a note issued to investors on Friday. Gabelli analyst J. Foung now forecasts that the firm will post earnings of $2.65 per share for the year, down from their previous estimate of $2.75. Gabelli also issued estimates for Circor International’s FY2018 earnings at $3.05 EPS.
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus lifted their price objective on Circor International from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research upgraded Circor International from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, June 28th. SunTrust Banks Inc. upgraded Circor International from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $46.00 to $55.00 in a research report on Friday. Finally, KeyCorp raised Circor International from a “sector weight” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $55.20.
Shares of Circor International (NYSE:CIR) traded up 1.75% during midday trading on Monday, hitting $54.51. The company’s stock had a trading volume of 125,724 shares. Circor International has a 12-month low of $32.79 and a 12-month high of $62.87. The firm has a 50-day moving average of $56.25 and a 200 day moving average of $55.96. The firm has a market cap of $895.22 million, a price-to-earnings ratio of 134.59 and a beta of 1.39.
Circor International (NYSE:CIR) last issued its earnings results on Friday, July 29th. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.07. Circor International had a return on equity of 9.45% and a net margin of 1.09%. The business earned $146.40 million during the quarter, compared to analysts’ expectations of $144.01 million. During the same period in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year.
Several large investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Circor International during the second quarter worth $6,017,000. Bank of New York Mellon Corp boosted its stake in shares of Circor International by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 367,614 shares of the company’s stock worth $20,953,000 after buying an additional 60,403 shares during the last quarter. EAM Investors LLC purchased a new stake in shares of Circor International during the second quarter worth $3,387,000. Netols Asset Management Inc. boosted its stake in shares of Circor International by 59.1% in the second quarter. Netols Asset Management Inc. now owns 115,032 shares of the company’s stock worth $6,556,000 after buying an additional 42,709 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Circor International by 35.5% in the second quarter. Ameriprise Financial Inc. now owns 103,139 shares of the company’s stock worth $5,878,000 after buying an additional 27,019 shares during the last quarter.
In other news, Director Douglas M. Hayes sold 3,000 shares of Circor International stock in a transaction 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 directly owns 14,556 shares of the company’s stock, valued at $890,390.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is owned by insiders.
About Circor International
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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