Colfax (NYSE:CFX) Updates FY 2021 Earnings Guidance

Colfax (NYSE:CFX) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.100-$2.100 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.150. The company issued revenue guidance of -.

Shares of Colfax stock traded down $0.66 during mid-day trading on Thursday, reaching $50.04. 526,200 shares of the stock were exchanged, compared to its average volume of 1,326,094. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 70.48, a price-to-earnings-growth ratio of 0.95 and a beta of 2.18. The company has a current ratio of 1.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $48.90 and a 200 day simple moving average of $46.87. Colfax has a fifty-two week low of $34.94 and a fifty-two week high of $54.67.

Colfax (NYSE:CFX) last announced its earnings results on Thursday, November 4th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. Colfax had a net margin of 2.92% and a return on equity of 7.28%. The business had revenue of $965.89 million during the quarter, compared to analysts’ expectations of $958.44 million. During the same quarter last year, the company posted $0.41 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, research analysts predict that Colfax will post 2.12 EPS for the current fiscal year.

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Colfax from $48.00 to $55.00 and gave the company a hold rating in a research note on Friday, November 5th. KeyCorp raised their target price on shares of Colfax from $57.00 to $60.00 and gave the stock an overweight rating in a report on Friday, November 5th. Argus raised their target price on shares of Colfax from $50.00 to $56.00 and gave the stock a buy rating in a report on Monday, August 16th. The Goldman Sachs Group downgraded shares of Colfax from a buy rating to a neutral rating and dropped their target price for the stock from $53.00 to $51.00 in a report on Friday, September 10th. Finally, Seaport Res Ptn restated a buy rating on shares of Colfax in a report on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Colfax has a consensus rating of Hold and an average price target of $50.86.

In other news, EVP Daniel A. Pryor sold 7,289 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $54.10, for a total transaction of $394,334.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew L. Trerotola sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $53.02, for a total value of $2,651,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,823 shares of company stock valued at $10,848,261. 9.60% of the stock is owned by insiders.

A hedge fund recently raised its stake in Colfax stock. UBS Group AG boosted its stake in Colfax Co. (NYSE:CFX) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,528 shares of the industrial products company’s stock after purchasing an additional 5,022 shares during the quarter. UBS Group AG’s holdings in Colfax were worth $2,732,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 95.87% of the company’s stock.

About Colfax

Colfax Corp. operates as a diversified technology company. The firm provides orthopedic care and fabrication technology products and services to customers. It operates through the following segments: Medical Technology and Fabrication Technology. The Medical Technology segment develops, manufactures and distributes medical devices used for rehabilitation, pain management and physical therapy.

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Earnings History and Estimates for Colfax (NYSE:CFX)

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