Circor International Inc. (CIR) Expected to Post Q3 2016 Earnings of $0.44 Per Share
Circor International Inc. (NYSE:CIR) – Investment analysts at Seaport Global Securities reduced their Q3 2016 earnings per share estimates for shares of Circor International in a note issued to investors on Thursday. Seaport Global Securities analyst R. Cassil now anticipates that the firm will post earnings of $0.44 per share for the quarter, down from their prior estimate of $0.55. Seaport Global Securities also issued estimates for Circor International’s Q4 2016 earnings at $0.43 EPS and FY2016 earnings at $1.91 EPS.
CIR has been the topic of a number of other research reports. Zacks Investment Research lowered Circor International from a “hold” rating to a “sell” rating in a research note on Friday. KeyCorp started coverage on Circor International in a research note on Tuesday, September 20th. They set a “sector weight” rating on the stock. Finally, Stifel Nicolaus reduced their price target on Circor International from $68.00 to $61.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Circor International currently has an average rating of “Hold” and an average price target of $49.50.
Circor International (NYSE:CIR) opened at 49.81 on Monday. The stock has a market capitalization of $818.03 million, a price-to-earnings ratio of 122.99 and a beta of 1.39. The company has a 50-day moving average price of $57.73 and a 200-day moving average price of $55.88. Circor International has a 12-month low of $32.79 and a 12-month high of $62.87.
Circor International (NYSE:CIR) last released its earnings results on Friday, July 29th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. The firm earned $146.40 million during the quarter, compared to analyst estimates of $144.01 million. Circor International had a return on equity of 9.45% and a net margin of 1.09%. Circor International’s revenue was down 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share.
Hedge funds have recently added to or reduced their stakes in the company. PineBridge Investments L.P. increased its stake in Circor International by 7.5% in the second quarter. PineBridge Investments L.P. now owns 2,083 shares of the company’s stock worth $119,000 after buying an additional 146 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Circor International by 104.7% in the second quarter. BNP Paribas Arbitrage SA now owns 5,411 shares of the company’s stock worth $308,000 after buying an additional 2,767 shares during the last quarter. Arizona State Retirement System increased its stake in Circor International by 2.4% in the second quarter. Arizona State Retirement System now owns 8,538 shares of the company’s stock worth $487,000 after buying an additional 200 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Circor International by 14.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 16,600 shares of the company’s stock worth $770,000 after buying an additional 2,100 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Circor International by 2.1% in the second quarter. California Public Employees Retirement System now owns 19,300 shares of the company’s stock worth $1,100,000 after buying an additional 400 shares during the last quarter.
In other news, Director Douglas M. Hayes sold 3,000 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $61.17, for a total transaction of $183,510.00. Following the completion of the sale, the director now directly owns 14,556 shares in the company, valued at approximately $890,390.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.20% of the company’s stock.
Circor International Company Profile
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems, which are used in the oil and gas, power generation, aerospace, defense and other industrial markets. The Company operates through two segments: CIRCOR Energy (Energy), and CIRCOR Aerospace & Defense (Aerospace & Defense).
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