Gabelli Brokers Reduce Earnings Estimates for Circor International Inc. (CIR)
Circor International Inc. (NYSE:CIR) – Stock analysts at Gabelli decreased their FY2017 EPS estimates for Circor International in a report released on Friday. Gabelli analyst J. Foung now expects that the brokerage will post earnings per share of $2.65 for the year, down from their previous forecast of $2.75. Gabelli also issued estimates for Circor International’s FY2018 earnings at $3.05 EPS.
Circor International (NYSE:CIR) last posted its earnings results on Friday, July 29th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Circor International had a net margin of 1.09% and a return on equity of 9.45%. The firm earned $146.40 million during the quarter, compared to analyst estimates of $144.01 million. During the same period last year, the firm posted $0.55 earnings per share. Circor International’s revenue for the quarter was down 12.3% compared to the same quarter last year.
A number of other research analysts also recently issued reports on CIR. Stifel Nicolaus boosted their price target on Circor International from $60.00 to $62.00 and gave the company a “buy” rating in a report on Monday. KeyCorp raised Circor International to an “overweight” rating in a report on Monday. Zacks Investment Research raised Circor International from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, SunTrust Banks Inc. raised Circor International from a “reduce” rating to a “hold” rating and boosted their price target for the company from $46.00 to $55.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $54.50.
Circor International (NYSE:CIR) opened at 51.94 on Monday. Circor International has a 12-month low of $32.79 and a 12-month high of $62.87. The stock has a market capitalization of $853.01 million, a price-to-earnings ratio of 128.25 and a beta of 1.39. The company has a 50 day moving average of $56.44 and a 200-day moving average of $55.78.
In other news, Director Douglas M. Hayes sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 14,556 shares of the company’s stock, valued at approximately $890,390.52. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. PineBridge Investments L.P. increased its position in Circor International by 7.5% in the second quarter. PineBridge Investments L.P. now owns 2,083 shares of the company’s stock valued at $119,000 after buying an additional 146 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its position 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 valued at $770,000 after buying an additional 2,100 shares in the last quarter. Ameriprise Financial Inc. increased its position in Circor International by 35.5% in the second quarter. Ameriprise Financial Inc. now owns 103,139 shares of the company’s stock valued at $5,878,000 after buying an additional 27,019 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Circor International by 0.7% in the second quarter. Gamco Investors INC. ET AL now owns 1,556,241 shares of the company’s stock valued at $88,690,000 after buying an additional 10,700 shares in the last quarter. Finally, California Public Employees Retirement System increased its position 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 valued at $1,100,000 after buying an additional 400 shares in the last quarter.
About Circor International
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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