Colfax Co. (NYSE:CFX) Expected to Post Earnings of $0.39 Per Share


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Equities research analysts forecast that Colfax Co. (NYSE:CFX) will report earnings of $0.39 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Colfax’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.40. Colfax reported earnings per share of $0.38 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.6%. The firm is expected to issue its next quarterly earnings results on Thursday, May 6th.

On average, analysts expect that Colfax will report full year earnings of $2.10 per share for the current financial year, with EPS estimates ranging from $2.00 to $2.20. For the next financial year, analysts forecast that the firm will report earnings of $2.45 per share, with EPS estimates ranging from $2.27 to $2.64. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Colfax.

Colfax (NYSE:CFX) last issued its quarterly earnings results on Wednesday, February 17th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The firm had revenue of $828.12 million for the quarter, compared to analyst estimates of $830.20 million. Colfax had a positive return on equity of 6.04% and a negative net margin of 0.24%.

CFX has been the subject of several recent research reports. Citigroup boosted their price objective on Colfax from $35.00 to $41.00 in a report on Monday, February 22nd. Barclays downgraded Colfax from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $48.00 to $45.00 in a report on Tuesday. TheStreet upgraded Colfax from a “c” rating to a “b-” rating in a report on Monday, February 22nd. KeyCorp boosted their price objective on Colfax from $47.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, March 18th. Finally, Morgan Stanley boosted their price objective on Colfax from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, February 25th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.18.

In other Colfax news, CFO Christopher M. Hix sold 18,206 shares of the company’s stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $46.74, for a total value of $850,948.44. Following the completion of the transaction, the chief financial officer now owns 81,522 shares in the company, valued at approximately $3,810,338.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew L. Trerotola sold 6,057 shares of the company’s stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $46.01, for a total value of $278,682.57. Following the completion of the transaction, the chief executive officer now owns 233,699 shares of the company’s stock, valued at approximately $10,752,490.99. The disclosure for this sale can be found here. Insiders sold a total of 40,524 shares of company stock valued at $1,886,484 in the last 90 days. Corporate insiders own 12.00% of the company’s stock.

A number of large investors have recently made changes to their positions in CFX. Carroll Financial Associates Inc. grew its stake in Colfax by 151.4% in the 1st quarter. Carroll Financial Associates Inc. now owns 729 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 439 shares during the period. Private Capital Group LLC purchased a new position in shares of Colfax during the 4th quarter valued at $42,000. US Bancorp DE lifted its position in shares of Colfax by 214.2% during the 4th quarter. US Bancorp DE now owns 2,429 shares of the industrial products company’s stock valued at $93,000 after buying an additional 1,656 shares during the last quarter. LS Investment Advisors LLC purchased a new position in shares of Colfax during the 4th quarter valued at $215,000. Finally, ProShare Advisors LLC purchased a new position in shares of Colfax during the 3rd quarter valued at $224,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Shares of NYSE CFX traded down $0.58 during midday trading on Thursday, hitting $43.26. 66,397 shares of the stock traded hands, compared to its average volume of 1,477,806. The company has a market cap of $5.13 billion, a PE ratio of -867.00, a P/E/G ratio of 2.61 and a beta of 2.15. Colfax has a one year low of $20.03 and a one year high of $50.26. The business has a 50 day moving average price of $45.46 and a two-hundred day moving average price of $37.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.96 and a current ratio of 1.64.

About Colfax

Colfax Corporation operates as a diversified technology company worldwide. The company operates in two segments, Fabrication Technology and Medical Technology. The Fabrication Technology segment formulates, develops, manufactures, and supplies consumable products and equipment, including cutting, joining, and automated welding products, as well as gas control equipment.

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Earnings History and Estimates for Colfax (NYSE:CFX)

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