Colfax Corporation (CFX) Expected to Post Quarterly Sales of $910.79 Million
Wall Street brokerages expect that Colfax Corporation (NYSE:CFX) will post $910.79 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Colfax Corporation’s earnings. The highest sales estimate is $930.20 million and the lowest is $893.80 million. Colfax Corporation reported sales of $879.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.6%. The firm is expected to report its next earnings results on Thursday, October 26th.
On average, analysts expect that Colfax Corporation will report full-year sales of $910.79 million for the current year, with estimates ranging from $3.60 billion to $3.77 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.90 billion per share, with estimates ranging from $3.75 billion to $4.03 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Colfax Corporation.
Colfax Corporation (NYSE:CFX) last released its earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The business had revenue of $965.83 million for the quarter, compared to analysts’ expectations of $940.31 million. During the same period last year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis.
Several equities research analysts recently commented on the company. Barclays PLC boosted their price target on Colfax Corporation from $38.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Colfax Corporation in a research note on Sunday, May 7th. Robert W. Baird boosted their price target on Colfax Corporation from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, May 8th. Zacks Investment Research raised Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research note on Tuesday, May 16th. Finally, Credit Suisse Group assumed coverage on Colfax Corporation in a research note on Thursday, May 18th. They issued an “outperform” rating and a $47.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.00.
Shares of Colfax Corporation (NYSE CFX) opened at 39.84 on Thursday. The company has a 50 day moving average of $40.49 and a 200 day moving average of $39.72. Colfax Corporation has a 52-week low of $27.75 and a 52-week high of $42.75. The firm has a market capitalization of $4.90 billion, a PE ratio of 31.35 and a beta of 1.37.
In related news, EVP Daniel A. Pryor sold 3,574 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $41.13, for a total value of $146,998.62. Following the completion of the sale, the executive vice president now directly owns 40,224 shares in the company, valued at approximately $1,654,413.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP A. Lynne Puckett sold 10,882 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $40.14, for a total value of $436,803.48. Following the completion of the sale, the senior vice president now owns 40,907 shares of the company’s stock, valued at $1,642,006.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,272 shares of company stock valued at $616,972. Corporate insiders own 10.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in Colfax Corporation during the first quarter valued at $251,000. Quantitative Systematic Strategies LLC raised its stake in Colfax Corporation by 11.1% in the first quarter. Quantitative Systematic Strategies LLC now owns 12,483 shares of the industrial products company’s stock valued at $490,000 after buying an additional 1,250 shares during the period. Columbus Circle Investors raised its stake in Colfax Corporation by 60.4% in the first quarter. Columbus Circle Investors now owns 629,362 shares of the industrial products company’s stock valued at $24,709,000 after buying an additional 237,013 shares during the period. Nationwide Fund Advisors raised its stake in Colfax Corporation by 68.7% in the first quarter. Nationwide Fund Advisors now owns 20,288 shares of the industrial products company’s stock valued at $797,000 after buying an additional 8,261 shares during the period. Finally, Mesirow Financial Investment Management Equity Management raised its stake in Colfax Corporation by 26.7% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 42,385 shares of the industrial products company’s stock valued at $1,664,000 after buying an additional 8,935 shares during the period. Hedge funds and other institutional investors own 77.35% of the company’s stock.
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About Colfax Corporation
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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