KeyCorp Analysts Reduce Earnings Estimates for Colfax Corporation (CFX)
Colfax Corporation (NYSE:CFX) – Equities research analysts at KeyCorp lowered their Q4 2017 EPS estimates for Colfax Corporation in a report released on Monday. KeyCorp analyst J. Hammond now anticipates that the industrial products company will earn $0.41 per share for the quarter, down from their previous forecast of $0.49. KeyCorp has a “Buy” rating and a $46.00 price objective on the stock.
Colfax Corporation (NYSE:CFX) last released its earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. Colfax Corporation had a net margin of 4.89% and a return on equity of 6.26%. The business had revenue of $844.50 million during the quarter, compared to analyst estimates of $901.09 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year.
Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Colfax Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target on shares of Colfax Corporation in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of Colfax Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Monday, October 9th. Robert W. Baird raised shares of Colfax Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $47.00 to $50.00 in a research report on Monday, July 31st. Finally, Cowen and Company reissued a “buy” rating and set a $50.00 price target on shares of Colfax Corporation in a research report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Colfax Corporation has a consensus rating of “Hold” and a consensus price target of $46.40.
Colfax Corporation (NYSE:CFX) opened at $35.30 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4,461.72, a PE ratio of 21.83, a PEG ratio of 2.28 and a beta of 1.30. Colfax Corporation has a 1 year low of $33.31 and a 1 year high of $43.29.
In other Colfax Corporation news, SVP Stephen Wittig sold 29,189 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $39.30, for a total value of $1,147,127.70. Following the transaction, the senior vice president now owns 15,479 shares of the company’s stock, valued at $608,324.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Paloma Partners Management Co acquired a new position in Colfax Corporation in the first quarter valued at about $392,000. Capital Fund Management S.A. acquired a new position in Colfax Corporation in the second quarter valued at about $1,154,000. BlackRock Inc. lifted its position in Colfax Corporation by 1.7% in the second quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock valued at $164,353,000 after buying an additional 70,676 shares during the last quarter. Principal Financial Group Inc. lifted its position in Colfax Corporation by 1.1% in the second quarter. Principal Financial Group Inc. now owns 8,956,040 shares of the industrial products company’s stock valued at $352,600,000 after buying an additional 95,361 shares during the last quarter. Finally, Oak Ridge Investments LLC acquired a new position in Colfax Corporation in the second quarter valued at about $46,085,000. 75.32% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Colfax Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colfax Corporation and related companies with MarketBeat.com's FREE daily email newsletter.