Colfax Corp (CFX) Forecasted to Post FY2018 Earnings of $1.70 Per Share
Colfax Corp (NYSE:CFX) – Investment analysts at Oppenheimer reduced their FY2018 earnings per share estimates for Colfax in a report released on Thursday. Oppenheimer analyst J. Giannakouros now expects that the industrial products company will earn $1.70 per share for the year, down from their previous estimate of $1.75. Oppenheimer currently has a “Hold” rating on the stock.
Colfax (NYSE:CFX) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company 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%. Colfax’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS.
Several other brokerages have also recently weighed in on CFX. Zacks Investment Research cut Colfax from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price objective on shares of Colfax in a report on Tuesday, October 17th. Robert W. Baird reiterated a “buy” rating and issued a $50.00 price objective on shares of Colfax in a report on Friday, October 27th. KeyCorp reiterated a “buy” rating and issued a $46.00 price objective on shares of Colfax in a report on Tuesday, September 26th. Finally, Cowen reiterated a “buy” rating and issued a $50.00 price objective on shares of Colfax in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Colfax currently has a consensus rating of “Hold” and a consensus target price of $46.40.
Shares of Colfax (NYSE CFX) traded down $0.18 during mid-day trading on Monday, reaching $37.08. The company had a trading volume of 704,000 shares, compared to its average volume of 714,030. The stock has a market cap of $4,570.00, a PE ratio of 22.34, a PEG ratio of 2.17 and a beta of 1.26. 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 current ratio of 1.80 and a quick ratio of 1.47.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CFX. Wells Fargo & Company MN lifted its stake in shares of Colfax by 97.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock valued at $123,239,000 after purchasing an additional 1,458,683 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Colfax by 82.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,897,556 shares of the industrial products company’s stock valued at $120,655,000 after purchasing an additional 1,306,927 shares during the period. Oak Ridge Investments LLC purchased a new position in shares of Colfax in the 2nd quarter valued at approximately $46,085,000. Balyasny Asset Management LLC purchased a new position in shares of Colfax in the 2nd quarter valued at approximately $35,722,000. Finally, Lodge Hill Capital LLC lifted its stake in shares of Colfax by 37.9% in the 2nd quarter. Lodge Hill Capital LLC now owns 2,020,200 shares of the industrial products company’s stock valued at $79,535,000 after purchasing an additional 555,000 shares during the period. Institutional investors own 74.86% of the company’s stock.
In other Colfax news, SVP Stephen Wittig sold 29,189 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $39.30, for a total value of $1,147,127.70. Following the completion of the sale, the senior vice president now owns 15,479 shares in the company, valued at approximately $608,324.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.60% of the company’s stock.
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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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