CIRCOR International, Inc. (NYSE:CIR) Expected to Post Quarterly Sales of $155.60 Million
Equities research analysts expect CIRCOR International, Inc. (NYSE:CIR) to announce sales of $155.60 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for CIRCOR International’s earnings, with estimates ranging from $153.10 million to $157.80 million. CIRCOR International posted sales of $134.83 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.4%. The company is expected to announce its next earnings report on Friday, October 27th.
According to Zacks, analysts expect that CIRCOR International will report full-year sales of $155.60 million for the current financial year, with estimates ranging from $615.40 million to $632.60 million. For the next financial year, analysts anticipate that the company will report sales of $684.40 million per share, with estimates ranging from $640.10 million to $726.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow CIRCOR International.
CIRCOR International (NYSE:CIR) last released its earnings results on Friday, July 28th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by $0.07. The business had revenue of $151.20 million during the quarter, compared to the consensus estimate of $158.09 million. CIRCOR International had a net margin of 2.74% and a return on equity of 6.55%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS.
Several research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of CIRCOR International from $68.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, May 1st. ValuEngine upgraded shares of CIRCOR International from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Seaport Global Securities downgraded shares of CIRCOR International from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $70.00 to $60.00 in a report on Wednesday, June 21st. Zacks Investment Research downgraded shares of CIRCOR International from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, BidaskClub downgraded shares of CIRCOR International from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $65.83.
Shares of CIRCOR International (NYSE CIR) traded up 0.86% on Friday, hitting $48.27. 70,525 shares of the stock were exchanged. The stock’s 50-day moving average is $55.88 and its 200-day moving average is $60.65. The stock has a market cap of $796.41 million, a price-to-earnings ratio of 49.56 and a beta of 1.66. CIRCOR International has a 1-year low of $47.46 and a 1-year high of $72.96.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th will be paid a $0.0375 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.15 annualized dividend and a dividend yield of 0.31%. CIRCOR International’s payout ratio is 15.31%.
Hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC raised its stake in CIRCOR International by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 27,743 shares of the industrial products company’s stock valued at $1,800,000 after buying an additional 1,757 shares during the last quarter. Russell Investments Group Ltd. raised its stake 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 valued at $3,517,000 after buying an additional 236 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CIRCOR International by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 220,207 shares of the industrial products company’s stock valued at $13,089,000 after buying an additional 8,173 shares during the last quarter. Comerica Bank raised its stake in CIRCOR International by 1.8% in the first quarter. Comerica Bank now owns 18,305 shares of the industrial products company’s stock valued at $1,190,000 after buying an additional 317 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in CIRCOR International during the first quarter valued at about $375,000.
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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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