Colfax Corp Forecasted to Earn Q3 2017 Earnings of $0.41 Per Share (CFX)
Colfax Corp (NYSE:CFX) – Analysts at Seaport Global Securities issued their Q3 2017 earnings per share estimates for shares of Colfax Corp in a research note issued to investors on Tuesday. Seaport Global Securities analyst W. Liptak anticipates that the industrial products company will earn $0.41 per share for the quarter. Seaport Global Securities currently has a “Buy” rating on the stock.
Colfax Corp (NYSE:CFX) last posted its earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Colfax Corp had a net margin of 6.05% and a return on equity of 6.94%. The firm had revenue of $965.83 million during the quarter, compared to the consensus estimate of $940.31 million. During the same quarter last year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis.
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CFX has been the subject of several other research reports. Argus reaffirmed a “buy” rating and set a $50.00 price target on shares of Colfax Corp in a research report on Tuesday, August 29th. BidaskClub raised shares of Colfax Corp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Colfax Corp from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 price target on shares of Colfax Corp in a research report on Wednesday. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $45.00) on shares of Colfax Corp in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $46.56.
Shares of Colfax Corp (NYSE CFX) opened at 41.64 on Friday. The company has a 50-day moving average of $39.99 and a 200 day moving average of $39.72. Colfax Corp has a 12-month low of $28.47 and a 12-month high of $42.85. The firm has a market cap of $5.12 billion, a P/E ratio of 32.76 and a beta of 1.35.
Hedge funds have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Colfax Corp by 4,167.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,603 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 2,542 shares during the period. Toronto Dominion Bank purchased a new position in shares of Colfax Corp in the second quarter valued at $118,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Colfax Corp by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 323 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Colfax Corp by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 251 shares during the period. Finally, M&T Bank Corp purchased a new position in shares of Colfax Corp in the first quarter valued at $214,000. Institutional investors and hedge funds own 75.22% of the company’s stock.
In other news, SVP Stephen Wittig sold 29,189 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total value of $1,147,127.70. Following the completion of the transaction, the senior vice president now directly owns 15,479 shares in the company, valued at $608,324.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel A. Pryor sold 3,574 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total transaction of $146,998.62. Following the completion of the transaction, the executive vice president now owns 40,224 shares of the company’s stock, valued at $1,654,413.12. The disclosure for this sale can be found here. Insiders sold 33,202 shares of company stock valued at $1,312,182 in the last three months. Company insiders own 10.60% of the company’s stock.
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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