Gabelli Analysts Decrease Earnings Estimates for Circor International Inc. (CIR)
Circor International Inc. (NYSE:CIR) – Gabelli dropped their FY2017 EPS estimates for shares of Circor International in a report released on Tuesday. Gabelli analyst J. Foung now expects that the firm will post earnings of $2.15 per share for the year, down from their prior forecast of $2.65. Gabelli also issued estimates for Circor International’s FY2018 earnings at $2.55 EPS, FY2019 earnings at $3.05 EPS and FY2020 earnings at $3.65 EPS.
Other research analysts have also recently issued reports about the company. Stifel Nicolaus boosted their target price on Circor International from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, October 17th. Zacks Investment Research upgraded Circor International from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. KeyCorp upgraded Circor International from a “sector weight” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, October 17th. Finally, SunTrust Banks Inc. upgraded Circor International from a “reduce” rating to a “hold” rating and upped their price objective for the company from $46.00 to $55.00 in a report on Friday, October 14th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $55.80.
Circor International (NYSE:CIR) traded up 2.64% on Thursday, reaching $61.42. The company’s stock had a trading volume of 122,757 shares. The company has a 50 day moving average of $54.91 and a 200 day moving average of $56.88. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 53.04 and a beta of 1.36. Circor International has a 52 week low of $32.79 and a 52 week high of $62.87.
Circor International (NYSE:CIR) last issued its quarterly earnings results on Friday, October 28th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. Circor International had a return on equity of 8.67% and a net margin of 3.23%. The firm had revenue of $134.80 million for the quarter, compared to the consensus estimate of $133.74 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was down 15.4% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan raised its stake 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. PineBridge Investments L.P. raised its stake 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. Aperio Group LLC raised its stake 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. Arizona State Retirement System raised its stake in shares of 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. Finally, California State Teachers Retirement System raised its stake in shares of Circor International by 0.9% in the third quarter. California State Teachers Retirement System now owns 34,877 shares of the company’s stock worth $2,077,000 after buying an additional 300 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 sale, the director now owns 14,556 shares of the company’s stock, valued at $890,390.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Wednesday, November 16th. Circor International’s payout ratio is 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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