Colfax Corp (CFX) Forecasted to Earn Q4 2017 Earnings of $0.40 Per Share
Colfax Corp (NYSE:CFX) – Analysts at Oppenheimer lowered their Q4 2017 earnings estimates for Colfax in a note issued to investors on Thursday. Oppenheimer analyst J. Giannakouros now forecasts that the industrial products company will earn $0.40 per share for the quarter, down from their prior forecast of $0.49. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Colfax’s FY2019 earnings at $1.90 EPS.
Several other research firms have also recently weighed in on CFX. Zacks Investment Research cut Colfax from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and set a $50.00 target price on shares of Colfax in a research note on Tuesday, October 17th. Robert W. Baird restated a “buy” rating and set a $50.00 target price on shares of Colfax in a research note on Friday, October 27th. KeyCorp restated a “buy” rating and set a $46.00 target price on shares of Colfax in a research note on Tuesday, September 26th. Finally, Cowen restated a “buy” rating and set a $50.00 target price on shares of Colfax in a research note on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.40.
Shares of Colfax (NYSE CFX) opened at $37.08 on Friday. The firm has a market capitalization of $4,587.29, a P/E ratio of 22.45, a P/E/G ratio of 2.34 and a beta of 1.27. Colfax has a 52 week low of $33.31 and a 52 week high of $43.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.80.
Colfax (NYSE:CFX) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $844.50 million during the quarter, compared to analysts’ expectations of $901.09 million. Colfax had a return on equity of 6.26% and a net margin of 4.89%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. lifted its position in Colfax by 4,167.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,603 shares of the industrial products company’s stock worth $102,000 after buying an additional 2,542 shares during the period. Toronto Dominion Bank purchased a new position in Colfax during the second quarter worth about $118,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Colfax by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock worth $139,000 after buying an additional 323 shares during the period. The Manufacturers Life Insurance Company lifted its position in Colfax by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after buying an additional 251 shares during the period. Finally, FNY Managed Accounts LLC purchased a new position in Colfax during the third quarter worth about $160,000. 74.83% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Stephen Wittig sold 29,189 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the sale, 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 SEC, which can be accessed through this hyperlink. 10.60% of the stock is owned by company insiders.
Colfax 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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