Equities Analysts Issue Forecasts for Colfax Corporation’s FY2017 Earnings (CFX)
Colfax Corporation (NYSE:CFX) – Northcoast Research cut their FY2017 EPS estimates for shares of Colfax Corporation in a research report issued on Monday. Northcoast Research analyst T. Hayes now forecasts that the industrial products company will post earnings per share of $1.67 for the year, down from their previous estimate of $1.71. Northcoast Research also issued estimates for Colfax Corporation’s Q4 2017 earnings at $0.51 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.00 EPS.
CFX has been the subject of several other research reports. BidaskClub raised Colfax Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Wolfe Research began coverage on Colfax Corporation in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Colfax Corporation in a research note on Sunday, May 7th. Credit Suisse Group began coverage on Colfax Corporation in a research note on Thursday, May 18th. They set an “outperform” rating and a $47.00 price target for the company. Finally, CIBC reaffirmed a “hold” rating on shares of Colfax Corporation in a research note on Wednesday, May 24th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $46.00.
Colfax Corporation (CFX) traded up 0.68% during trading on Wednesday, reaching $41.55. 419,028 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $39.94 and a 200 day moving average price of $39.56. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 32.69 and a beta of 1.37. Colfax Corporation has a 52 week low of $27.75 and a 52 week high of $42.75.
Colfax Corporation (NYSE:CFX) last posted its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.43. The company had revenue of $965.83 million during the quarter, compared to analysts’ expectations of $940.31 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share.
A number of hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in Colfax Corporation by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 7,461 shares of the industrial products company’s stock worth $294,000 after buying an additional 145 shares in the last quarter. US Bancorp DE boosted its stake in Colfax Corporation by 0.9% in the second quarter. US Bancorp DE now owns 27,185 shares of the industrial products company’s stock worth $1,070,000 after buying an additional 253 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Colfax Corporation by 0.5% in the first quarter. Public Employees Retirement System of Ohio now owns 49,985 shares of the industrial products company’s stock worth $1,962,000 after buying an additional 256 shares in the last quarter. Aperio Group LLC boosted its stake in Colfax Corporation by 0.6% in the second quarter. Aperio Group LLC now owns 53,565 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 337 shares in the last quarter. Finally, Credit Suisse AG boosted its stake in Colfax Corporation by 0.6% in the first quarter. Credit Suisse AG now owns 59,641 shares of the industrial products company’s stock worth $2,342,000 after buying an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 77.27% of the company’s stock.
In related news, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $41.13, for a total transaction of $146,998.62. Following the completion of the sale, the executive vice president now owns 40,224 shares in the company, valued at approximately $1,654,413.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP A. Lynne Puckett sold 10,882 shares of Colfax Corporation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $40.14, for a total value of $436,803.48. Following the sale, the senior vice president now owns 40,907 shares of the company’s stock, valued at approximately $1,642,006.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,560 shares of company stock valued at $628,319. 10.60% of the stock is currently owned by company insiders.
Colfax Corporation Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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