$155.60 Million in Sales Expected for CIRCOR International, Inc. (CIR) This Quarter
Equities research analysts predict that CIRCOR International, Inc. (NYSE:CIR) will announce sales of $155.60 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CIRCOR International’s earnings. The lowest sales estimate is $153.10 million and the highest is $157.80 million. CIRCOR International reported sales of $134.83 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.4%. The firm is expected to report its next earnings results before the market opens on Friday, October 27th.
On average, analysts expect that CIRCOR International will report full year sales of $155.60 million for the current fiscal year, with estimates ranging from $619.20 million to $632.60 million. For the next year, analysts anticipate that the company will report sales of $718.30 million per share, with estimates ranging from $710.20 million to $726.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for CIRCOR International.
CIRCOR International (NYSE:CIR) last issued its earnings results on Friday, July 28th. The industrial products company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.07). CIRCOR International had a return on equity of 6.55% and a net margin of 2.74%. The firm had revenue of $151.20 million during the quarter, compared to analysts’ expectations of $158.09 million. During the same period in the previous year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year.
A number of analysts recently issued reports on CIR shares. Sidoti upgraded CIRCOR International from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, June 22nd. They noted that the move was a valuation call. Seaport Global Securities downgraded CIRCOR International from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $70.00 to $60.00 in a research report on Wednesday, June 21st. Zacks Investment Research downgraded CIRCOR International from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Stifel Nicolaus restated a “buy” rating and issued a $72.00 price target on shares of CIRCOR International in a research report on Friday, July 14th. Finally, BidaskClub downgraded CIRCOR International from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.80.
CIRCOR International (NYSE CIR) opened at 55.65 on Thursday. The stock has a market capitalization of $918.17 million, a P/E ratio of 57.14 and a beta of 1.64. CIRCOR International has a 52 week low of $46.97 and a 52 week high of $72.96. The company has a 50 day moving average of $50.20 and a 200 day moving average of $57.34.
A number of institutional investors and hedge funds have recently modified their holdings of CIR. Russell Investments Group Ltd. lifted its position in CIRCOR International by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 59,177 shares of the industrial products company’s stock worth $3,517,000 after buying an additional 236 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of CIRCOR International by 3.9% during the first quarter. Bank of New York Mellon Corp now owns 220,207 shares of the industrial products company’s stock worth $13,089,000 after purchasing an additional 8,173 shares during the last quarter. Comerica Bank lifted its position in shares of CIRCOR International by 1.8% during the first quarter. Comerica Bank now owns 18,305 shares of the industrial products company’s stock worth $1,190,000 after purchasing an additional 317 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of CIRCOR International during the first quarter worth $375,000. Finally, Ameriprise Financial Inc. lifted its position in shares of CIRCOR International by 4.3% during the first quarter. Ameriprise Financial Inc. now owns 85,950 shares of the industrial products company’s stock worth $5,108,000 after purchasing an additional 3,530 shares during the last quarter.
About CIRCOR International
CIRCOR International, Inc (CIRCOR) designs, manufactures and markets engineered products and sub-systems for markets, including oil and gas, aerospace, power and process, and industrial solutions. The Company operates through two segments: CIRCOR Energy (Energy segment (Energy)) and CIRCOR Advanced Flow Solutions (Advanced Flow Solutions segment (AFS)).
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