Chicago Bridge & Iron (CBI) Expected to Post Quarterly Sales of $1.77 Billion

Wall Street analysts expect that Chicago Bridge & Iron (NYSE:CBI) will announce $1.77 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Chicago Bridge & Iron’s earnings, with the lowest sales estimate coming in at $1.71 billion and the highest estimate coming in at $1.85 billion. Chicago Bridge & Iron posted sales of $2.54 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 30.3%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that Chicago Bridge & Iron will report full-year sales of $1.77 billion for the current financial year, with estimates ranging from $6.87 billion to $7.27 billion. For the next year, analysts forecast that the business will report sales of $6.75 billion per share, with estimates ranging from $6.32 billion to $7.36 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Chicago Bridge & Iron.

A number of equities analysts recently commented on the stock. KeyCorp upgraded shares of Chicago Bridge & Iron to an “overweight” rating and set a $14.00 target price for the company in a research note on Wednesday, January 24th. Zacks Investment Research downgraded shares of Chicago Bridge & Iron from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. ValuEngine downgraded shares of Chicago Bridge & Iron from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Macquarie upgraded shares of Chicago Bridge & Iron from an “underperform” rating to a “neutral” rating in a research note on Tuesday, December 19th. Finally, DA Davidson downgraded shares of Chicago Bridge & Iron from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Tuesday, December 19th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. Chicago Bridge & Iron currently has an average rating of “Hold” and an average target price of $19.07.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global X Management Co. LLC boosted its stake in Chicago Bridge & Iron by 75.4% in the fourth quarter. Global X Management Co. LLC now owns 6,971 shares of the construction company’s stock valued at $113,000 after acquiring an additional 2,996 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Chicago Bridge & Iron by 1,648.8% in the second quarter. Ameritas Investment Partners Inc. now owns 8,849 shares of the construction company’s stock valued at $175,000 after acquiring an additional 8,343 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Chicago Bridge & Iron in the third quarter valued at $176,000. Cubist Systematic Strategies LLC acquired a new position in Chicago Bridge & Iron in the second quarter valued at $177,000. Finally, Wedbush Securities Inc. acquired a new position in Chicago Bridge & Iron in the third quarter valued at $196,000. Institutional investors own 69.73% of the company’s stock.

Shares of Chicago Bridge & Iron (NYSE:CBI) opened at $18.07 on Friday. Chicago Bridge & Iron has a 12-month low of $9.55 and a 12-month 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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