$883.51 Million in Sales Expected for Colfax Corp (NYSE:CFX) This Quarter

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Wall Street analysts predict that Colfax Corp (NYSE:CFX) will announce $883.51 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Colfax’s earnings, with the lowest sales estimate coming in at $878.90 million and the highest estimate coming in at $894.00 million. Colfax reported sales of $985.23 million during the same quarter last year, which would suggest a negative year over year growth rate of 10.3%. The company is expected to announce its next earnings results on Wednesday, February 12th.

According to Zacks, analysts expect that Colfax will report full-year sales of $3.44 billion for the current financial year, with estimates ranging from $3.32 billion to $3.66 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.51 billion, with estimates ranging from $3.39 billion to $3.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Colfax.

Colfax (NYSE:CFX) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $846.52 million during the quarter, compared to the consensus estimate of $852.39 million. Colfax had a positive return on equity of 9.06% and a negative net margin of 12.40%. The company’s quarterly revenue was up 61.5% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS.

CFX has been the topic of a number of research analyst reports. Deutsche Bank raised their price target on Colfax from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $37.00 target price on shares of Colfax in a research report on Friday, November 22nd. Bank of America upgraded shares of Colfax from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $27.00 to $37.00 in a research report on Monday, November 4th. Raymond James reissued an “outperform” rating and issued a $18.00 price objective on shares of Colfax in a research note on Thursday, October 24th. Finally, Seaport Global Securities restated a “buy” rating on shares of Colfax in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $28.87.

In other Colfax news, EVP Daniel A. Pryor sold 4,825 shares of Colfax stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $33.32, for a total transaction of $160,769.00. Following the completion of the transaction, the executive vice president now owns 79,689 shares in the company, valued at approximately $2,655,237.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Shyam Kambeyanda sold 4,100 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $36.06, for a total transaction of $147,846.00. Following the completion of the transaction, the senior vice president now owns 47,163 shares of the company’s stock, valued at $1,700,697.78. The disclosure for this sale can be found here. 12.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFX. Parallel Advisors LLC boosted its position in Colfax by 176.4% during the second quarter. Parallel Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 799 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Colfax during the 3rd quarter worth approximately $82,000. Nisa Investment Advisors LLC acquired a new stake in shares of Colfax in the second quarter valued at $83,000. Dupont Capital Management Corp purchased a new stake in Colfax during the third quarter worth about $218,000. Finally, Fox Run Management L.L.C. purchased a new stake in Colfax during the third quarter worth about $225,000. Institutional investors and hedge funds own 99.06% of the company’s stock.

NYSE CFX traded up $1.15 during mid-day trading on Friday, reaching $34.58. 50,962 shares of the stock were exchanged, compared to its average volume of 1,471,568. The stock has a market capitalization of $3.97 billion, a PE ratio of 14.95, a PEG ratio of 2.56 and a beta of 1.64. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.94 and a current ratio of 2.32. Colfax has a 1-year low of $18.95 and a 1-year high of $36.63. The business’s fifty day simple moving average is $32.91 and its 200 day simple moving average is $28.58.

Colfax Company Profile

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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Earnings History and Estimates for Colfax (NYSE:CFX)

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