Chicago Bridge & Iron (CBI) Expected to Announce Quarterly Sales of $1.75 Billion

Brokerages predict that Chicago Bridge & Iron (NYSE:CBI) will announce $1.75 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Chicago Bridge & Iron’s earnings. The highest sales estimate is $1.82 billion and the lowest is $1.70 billion. Chicago Bridge & Iron reported sales of $2.54 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 31.1%. The firm is scheduled to report its next earnings report on Tuesday, February 27th.

On average, analysts expect that Chicago Bridge & Iron will report full year sales of $1.75 billion for the current fiscal year, with estimates ranging from $6.55 billion to $7.27 billion. For the next year, analysts anticipate that the business will post sales of $6.46 billion per share, with estimates ranging from $5.96 billion to $7.36 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Chicago Bridge & Iron.

Chicago Bridge & Iron (NYSE:CBI) last released its earnings results on Monday, October 30th. The construction company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.19). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.80 billion. Chicago Bridge & Iron had a negative return on equity of 10.86% and a negative net margin of 13.33%. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share.

A number of research firms have recently commented on CBI. Robert W. Baird lifted their target price on Chicago Bridge & Iron from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Jefferies Group set a $15.00 target price on Chicago Bridge & Iron and gave the stock a “hold” rating in a research note on Tuesday, October 31st. ValuEngine cut Chicago Bridge & Iron from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Macquarie upgraded Chicago Bridge & Iron from an “underperform” rating to a “neutral” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded Chicago Bridge & Iron from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.00.

In related news, insider Daniel M. Mccarthy sold 7,500 shares of Chicago Bridge & Iron stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $15.34, for a total value of $115,050.00. Following the completion of the sale, the insider now owns 97,464 shares of the company’s stock, valued at approximately $1,495,097.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Chicago Bridge & Iron by 47.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,697 shares of the construction company’s stock worth $152,000 after acquiring an additional 2,466 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Chicago Bridge & Iron by 1,648.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,849 shares of the construction company’s stock worth $175,000 after acquiring an additional 8,343 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Chicago Bridge & Iron in the 3rd quarter worth about $176,000. Cubist Systematic Strategies LLC purchased a new stake in Chicago Bridge & Iron in the 2nd quarter worth about $177,000. Finally, Wedbush Securities Inc. purchased a new stake in Chicago Bridge & Iron in the 3rd quarter worth about $196,000. 70.68% of the stock is owned by institutional investors.

Shares of Chicago Bridge & Iron (CBI) opened at $16.01 on Wednesday. Chicago Bridge & Iron has a 52 week low of $9.55 and a 52 week high of $36.15.

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Chicago Bridge & Iron Company Profile

Chicago Bridge & Iron Company N.V. provides services to customers in energy infrastructure market. The Company provides services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.

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Earnings History and Estimates for Chicago Bridge & Iron (NYSE:CBI)

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