Zacks: Analysts Anticipate Colfax Corp (CFX) Will Post Quarterly Sales of $936.91 Million
Brokerages expect Colfax Corp (NYSE:CFX) to announce sales of $936.91 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Colfax Corp’s earnings, with the highest sales estimate coming in at $950.94 million and the lowest estimate coming in at $922 million. Colfax Corp posted sales of $957.25 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.1%. The company is scheduled to report its next earnings results on Thursday, July 27th.
According to Zacks, analysts expect that Colfax Corp will report full year sales of $936.91 million for the current fiscal year, with estimates ranging from $3.57 billion to $3.7 billion. For the next financial year, analysts forecast that the business will post sales of $3.83 billion per share, with estimates ranging from $3.72 billion to $3.94 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Colfax Corp.
Colfax Corp (NYSE:CFX) last released its quarterly earnings data on Friday, May 5th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $845 million for the quarter, compared to analysts’ expectations of $820.23 million. Colfax Corp had a return on equity of 6.02% and a net margin of 3.51%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS.
Several equities analysts have issued reports on the stock. Barclays PLC set a $40.00 price target on shares of Colfax Corp and gave the stock a “hold” rating in a report on Saturday, May 6th. Robert W. Baird lifted their price target on shares of Colfax Corp from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, May 8th. Zacks Investment Research lowered shares of Colfax Corp from a “buy” rating to a “hold” rating in a report on Monday, March 20th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Colfax Corp in a report on Sunday, May 7th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $43.00 price target on shares of Colfax Corp in a report on Friday, March 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Colfax Corp has a consensus rating of “Hold” and an average target price of $40.14.
Colfax Corp (NYSE:CFX) opened at 39.73 on Friday. Colfax Corp has a 52-week low of $24.62 and a 52-week high of $41.99. The company has a market capitalization of $4.89 billion, a PE ratio of 33.96 and a beta of 1.52. The company has a 50-day moving average price of $39.35 and a 200 day moving average price of $37.92.
Large investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in Colfax Corp during the fourth quarter valued at approximately $590,000. Motley Fool Wealth Management LLC increased its stake in Colfax Corp by 1.5% in the fourth quarter. Motley Fool Wealth Management LLC now owns 211,155 shares of the industrial products company’s stock valued at $7,587,000 after buying an additional 3,157 shares during the last quarter. Norges Bank bought a new stake in Colfax Corp during the fourth quarter valued at approximately $49,248,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Colfax Corp during the fourth quarter valued at approximately $67,953,000. Finally, Wells Fargo & Company MN increased its stake in Colfax Corp by 3.0% in the third quarter. Wells Fargo & Company MN now owns 1,547,371 shares of the industrial products company’s stock valued at $48,634,000 after buying an additional 44,413 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.
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About Colfax Corp
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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