Zacks: Brokerages Expect Colfax Corp (CFX) to Announce $0.30 Earnings Per Share

Wall Street brokerages expect that Colfax Corp (NYSE:CFX) will report earnings per share (EPS) of $0.30 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Colfax Corp’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.33. Colfax Corp also posted earnings per share of $0.30 during the same quarter last year. The business is expected to announce its next earnings report on Tuesday, May 2nd.

According to Zacks, analysts expect that Colfax Corp will report full-year earnings of $1.66 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.72. For the next year, analysts forecast that the firm will report earnings of $1.90 per share, with EPS estimates ranging from $1.75 to $2.00. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Colfax Corp.

Colfax Corp (NYSE:CFX) last announced its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The firm had revenue of $930 million for the quarter, compared to analyst estimates of $952.83 million. Colfax Corp had a net margin of 3.51% and a return on equity of 6.02%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS.

A number of research analysts have issued reports on CFX shares. Royal Bank of Canada upgraded Colfax Corp from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $32.00 to $43.00 in a research report on Friday, January 13th. Argus upgraded Colfax Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. Seaport Global Securities upgraded Colfax Corp from an “accumulate” rating to a “buy” rating in a research report on Wednesday, February 1st. Stifel Nicolaus lifted their target price on Colfax Corp from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Finally, Barclays PLC reiterated a “hold” rating on shares of Colfax Corp in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Colfax Corp has a consensus rating of “Buy” and an average price target of $38.67.

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Several hedge funds have recently added to or reduced their stakes in the company. Boothbay Fund Management LLC purchased a new stake in Colfax Corp during the fourth quarter valued at $222,000. Fox Run Management L.L.C. purchased a new stake in Colfax Corp during the first quarter valued at $251,000. Russell Investments Group Ltd. purchased a new stake in Colfax Corp during the fourth quarter valued at $256,000. Bayesian Capital Management LP purchased a new stake in Colfax Corp during the fourth quarter valued at $340,000. Finally, Ironwood Investment Management LLC purchased a new stake in Colfax Corp during the third quarter valued at $307,000. Institutional investors own 79.74% of the company’s stock.

Shares of Colfax Corp (NYSE:CFX) traded down 2.15% during midday trading on Friday, reaching $38.75. 781,809 shares of the company’s stock traded hands. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 37.26 and a beta of 1.52. Colfax Corp has a 52-week low of $24.62 and a 52-week high of $41.99. The stock has a 50 day moving average of $38.83 and a 200-day moving average of $36.76.

Colfax Corp Company Profile

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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