Brokerages Expect Colfax Corp (CFX) Will Post Earnings of $0.61 Per Share

Brokerages expect Colfax Corp (NYSE:CFX) to announce $0.61 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Colfax’s earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.58. Colfax also posted earnings of $0.61 per share in the same quarter last year. The business is scheduled to issue its next earnings results on Monday, August 5th.

According to Zacks, analysts expect that Colfax will report full-year earnings of $2.58 per share for the current fiscal year, with EPS estimates ranging from $2.55 to $2.67. For the next fiscal year, analysts forecast that the company will report earnings of $2.79 per share, with EPS estimates ranging from $2.32 to $3.01. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Colfax.

Colfax (NYSE:CFX) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. Colfax had a net margin of 1.68% and a return on equity of 8.16%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis.

CFX has been the subject of several analyst reports. Raymond James reissued a “buy” rating and issued a $21.00 target price on shares of Colfax in a research note on Thursday, May 2nd. Goldman Sachs Group initiated coverage on shares of Colfax in a research note on Friday, April 5th. They issued a “buy” rating and a $34.00 target price for the company. Gabelli reissued a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. Oppenheimer reaffirmed a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. Finally, Longbow Research reaffirmed a “buy” rating and set a $38.00 price objective on shares of Colfax in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $29.90.

CFX stock traded down $0.23 during trading on Thursday, hitting $26.73. The stock had a trading volume of 87,882 shares, compared to its average volume of 2,237,255. Colfax has a 1-year low of $18.95 and a 1-year high of $37.05. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.84 and a beta of 1.62. The company has a current ratio of 1.53, a quick ratio of 1.06 and a debt-to-equity ratio of 1.12.

In related news, CEO Ian Brander sold 4,260 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $27.01, for a total transaction of $115,062.60. Following the completion of the sale, the chief executive officer now owns 21,876 shares of the company’s stock, valued at approximately $590,870.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Kambeyanda sold 11,764 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $26.27, for a total transaction of $309,040.28. Following the sale, the insider now directly owns 51,263 shares of the company’s stock, valued at approximately $1,346,679.01. The disclosure for this sale can be found here. Corporate insiders own 12.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CFX. PNC Financial Services Group Inc. boosted its holdings in Colfax by 12.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,808 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 644 shares during the period. Front Street Capital Management Inc. boosted its holdings in Colfax by 0.7% in the 4th quarter. Front Street Capital Management Inc. now owns 118,456 shares of the industrial products company’s stock worth $2,476,000 after acquiring an additional 845 shares during the period. Macquarie Group Ltd. purchased a new position in Colfax in the 4th quarter worth approximately $27,000. Bridges Investment Management Inc. boosted its holdings in Colfax by 4.2% in the 1st quarter. Bridges Investment Management Inc. now owns 34,410 shares of the industrial products company’s stock worth $1,021,000 after acquiring an additional 1,400 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Colfax by 13.7% during the 4th quarter. Stifel Financial Corp now owns 11,905 shares of the industrial products company’s stock valued at $253,000 after buying an additional 1,430 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

About Colfax

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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