Brokerages Expect Colfax Corp (CFX) to Announce $0.47 Earnings Per Share

Equities research analysts expect that Colfax Corp (NYSE:CFX) will report $0.47 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have issued estimates for Colfax’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.40. Colfax reported earnings of $0.46 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The firm is expected to issue its next earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Colfax will report full-year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.75. For the next financial year, analysts forecast that the business will post earnings of $2.11 per share, with EPS estimates ranging from $2.07 to $2.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Colfax.

Colfax (NYSE:CFX) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $844.50 million during the quarter, compared to analyst estimates of $901.09 million. Colfax had a return on equity of 6.26% and a net margin of 4.89%. Colfax’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share.

A number of brokerages recently issued reports on CFX. Zacks Investment Research upgraded Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price target on shares of Colfax in a report on Monday, December 11th. Oppenheimer reiterated a “hold” rating on shares of Colfax in a report on Thursday, November 30th. Longbow Research upgraded Colfax from a “neutral” rating to a “buy” rating in a report on Tuesday, November 21st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $44.00 price target on shares of Colfax in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $45.80.

Shares of Colfax (NYSE CFX) traded up $0.55 during midday trading on Wednesday, hitting $41.41. The company had a trading volume of 765,200 shares, compared to its average volume of 624,833. The company has a quick ratio of 1.47, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $5,100.00, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. Colfax has a 12-month low of $33.31 and a 12-month high of $43.29.

In other news, EVP Daniel A. Pryor sold 53,333 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the transaction, the executive vice president now directly owns 93,557 shares of the company’s stock, valued at $3,569,199.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.60% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. M&T Bank Corp increased its position in shares of Colfax by 0.7% during the second quarter. M&T Bank Corp now owns 5,510 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 41 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Colfax by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Colfax by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 323 shares in the last quarter. Legal & General Group Plc increased its position in shares of Colfax by 0.8% during the second quarter. Legal & General Group Plc now owns 93,745 shares of the industrial products company’s stock worth $3,687,000 after purchasing an additional 773 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its position in shares of Colfax by 11.7% during the third quarter. Eqis Capital Management Inc. now owns 13,531 shares of the industrial products company’s stock worth $563,000 after purchasing an additional 1,415 shares in the last quarter. 74.86% of the stock is currently owned by institutional investors and hedge funds.

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About Colfax

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.

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