Colfax Corporation (CFX) Expected to Post Quarterly Sales of $915.92 Million
Brokerages expect Colfax Corporation (NYSE:CFX) to report sales of $915.92 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Colfax Corporation’s earnings, with estimates ranging from $903.90 million to $930.20 million. Colfax Corporation posted sales of $879.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The company is scheduled to report its next earnings report on Thursday, October 26th.
On average, analysts expect that Colfax Corporation will report full-year sales of $915.92 million for the current fiscal year, with estimates ranging from $3.68 billion to $3.77 billion. For the next financial year, analysts expect that the company will post sales of $3.95 billion per share, with estimates ranging from $3.83 billion to $4.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Colfax Corporation.
Colfax Corporation (NYSE:CFX) last issued its quarterly earnings data 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 company had revenue of $965.83 million for the quarter, compared to the consensus estimate of $940.31 million. During the same period last year, the firm posted $0.41 EPS. Colfax Corporation’s revenue for the quarter was up .9% on a year-over-year basis.
CFX has been the subject of several recent research reports. BidaskClub upgraded shares of Colfax Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Seaport Global Securities reiterated a “buy” rating on shares of Colfax Corporation in a research note on Wednesday, June 14th. Zacks Investment Research upgraded shares of Colfax Corporation from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Monday, July 17th. Argus reiterated a “buy” rating and set a $50.00 target price on shares of Colfax Corporation in a research note on Tuesday, August 29th. Finally, Wolfe Research initiated coverage on shares of Colfax Corporation in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Colfax Corporation presently has a consensus rating of “Buy” and an average target price of $46.44.
In related news, EVP Daniel A. Pryor sold 3,574 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total value of $146,998.62. Following the completion of the transaction, the executive vice president now owns 40,224 shares in the company, valued at approximately $1,654,413.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stephen Wittig sold 29,189 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the completion of the transaction, the senior vice president now owns 15,479 shares of the company’s stock, valued at approximately $608,324.70. The disclosure for this sale can be found here. Insiders sold a total of 33,202 shares of company stock valued at $1,312,182 in the last quarter. 10.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CFX. Nationwide Fund Advisors grew its position in Colfax Corporation by 68.7% in the 1st 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 in the last quarter. Canada Pension Plan Investment Board grew its position in Colfax Corporation by 274.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 23,610 shares of the industrial products company’s stock valued at $927,000 after buying an additional 17,300 shares in the last quarter. Bank of New York Mellon Corp grew its position in Colfax Corporation by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 345,335 shares of the industrial products company’s stock valued at $13,559,000 after buying an additional 1,978 shares in the last quarter. Swiss National Bank grew its position in Colfax Corporation by 0.7% in the 1st quarter. Swiss National Bank now owns 152,200 shares of the industrial products company’s stock valued at $5,975,000 after buying an additional 1,000 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in Colfax Corporation in the 1st quarter valued at about $2,090,000. Hedge funds and other institutional investors own 75.22% of the company’s stock.
Colfax Corporation (NYSE:CFX) opened at 42.74 on Friday. Colfax Corporation has a 12 month low of $28.30 and a 12 month high of $42.85. The firm’s 50-day moving average is $39.99 and its 200 day moving average is $39.72. The stock has a market capitalization of $5.26 billion, a P/E ratio of 33.63 and a beta of 1.35.
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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