Gabelli Weighs in on Circor International Inc.’s FY2016 Earnings (CIR)
Circor International Inc. (NYSE:CIR) – Equities research analysts at Gabelli decreased their FY2016 EPS estimates for shares of Circor International in a research note issued on Tuesday. Gabelli analyst J. Foung now expects that the brokerage will earn $1.90 per share for the year, down from their previous estimate of $2.15.
Circor International (NYSE:CIR) last announced its quarterly earnings data on Friday, October 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Circor International had a net margin of 3.23% and a return on equity of 8.67%. The company earned $134.80 million during the quarter, compared to analysts’ expectations of $133.74 million. During the same quarter in the prior year, the company posted $0.64 EPS. The business’s revenue was down 15.4% on a year-over-year basis.
Several other brokerages have also recently weighed in on CIR. Zacks Investment Research cut shares of Circor International from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. KeyCorp initiated coverage on shares of Circor International in a research note on Tuesday, September 20th. They set a “sector weight” rating for the company. Stifel Nicolaus decreased their price target on shares of Circor International from $68.00 to $61.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Finally, SunTrust Banks Inc. raised shares of Circor International from a “reduce” rating to a “hold” rating and raised their price target for the stock from $46.00 to $55.00 in a research note on Friday, October 14th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $55.80.
Circor International (NYSE:CIR) opened at 59.84 on Wednesday. The firm has a market cap of $982.93 million, a PE ratio of 51.68 and a beta of 1.36. Circor International has a 52 week low of $32.79 and a 52 week high of $62.87. The stock has a 50 day moving average of $54.72 and a 200-day moving average of $56.76.
Institutional investors have recently modified their holdings of the company. PineBridge Investments L.P. raised its position in shares of 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. SG Americas Securities LLC purchased a new position in shares of Circor International during the third quarter worth $158,000. Municipal Employees Retirement System of Michigan raised its position in shares of Circor International by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,640 shares of the company’s stock worth $217,000 after buying an additional 60 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of 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. Finally, Aperio Group LLC raised its position in shares of Circor International by 2.6% in the third quarter. Aperio Group LLC now owns 5,860 shares of the company’s stock worth $349,000 after buying an additional 147 shares during the last quarter.
In other Circor International news, Director Douglas M. Hayes sold 3,000 shares of the business’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 value of $183,510.00. Following the transaction, the director now directly owns 14,556 shares of the company’s stock, valued at $890,390.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.20% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.25%. The ex-dividend date is Wednesday, November 16th. Circor International’s dividend payout ratio (DPR) is presently 12.93%.
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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