$127.84 Million in Sales Expected for Cambrex Co. (CBM) This Quarter

Wall Street analysts expect Cambrex Co. (NYSE:CBM) to report sales of $127.84 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Cambrex’s earnings, with estimates ranging from $122.04 million to $133.63 million. Cambrex posted sales of $112.62 million during the same quarter last year, which would indicate a positive year over year growth rate of 13.5%. The company is scheduled to report its next earnings report on Tuesday, November 6th.

On average, analysts expect that Cambrex will report full year sales of $568.72 million for the current fiscal year, with estimates ranging from $564.89 million to $572.55 million. For the next financial year, analysts anticipate that the firm will post sales of $674.18 million, with estimates ranging from $663.91 million to $684.45 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Cambrex.

Cambrex (NYSE:CBM) last released its earnings results on Thursday, August 2nd. The biotechnology company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.05. The company had revenue of $152.05 million during the quarter, compared to the consensus estimate of $132.78 million. Cambrex had a net margin of 20.75% and a return on equity of 22.32%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 EPS.

Several research firms have recently weighed in on CBM. ValuEngine raised shares of Cambrex from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Jefferies Financial Group initiated coverage on shares of Cambrex in a research report on Tuesday, September 25th. They issued a “buy” rating and a $75.50 target price for the company. Finally, Zacks Investment Research raised shares of Cambrex from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Cambrex presently has a consensus rating of “Buy” and an average price target of $69.50.

Shares of CBM traded up $0.77 during midday trading on Thursday, hitting $54.02. The company had a trading volume of 13,861 shares, compared to its average volume of 372,871. The company has a market capitalization of $1.77 billion, a P/E ratio of 17.04, a PEG ratio of 1.89 and a beta of 2.44. Cambrex has a 52 week low of $42.55 and a 52 week high of $69.43.

In related news, Director Ilan Kaufthal sold 5,500 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $62.38, for a total transaction of $343,090.00. Following the completion of the sale, the director now owns 54,084 shares of the company’s stock, valued at approximately $3,373,759.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven M. Klosk sold 80,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $62.45, for a total transaction of $4,996,000.00. Following the sale, the chief executive officer now directly owns 163,328 shares of the company’s stock, valued at approximately $10,199,833.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 298,760 shares of company stock valued at $18,730,127. Insiders own 2.42% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado grew its position in Cambrex by 5.7% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 396,370 shares of the biotechnology company’s stock worth $27,112,000 after purchasing an additional 21,313 shares during the last quarter. CWM LLC bought a new position in Cambrex in the 3rd quarter worth about $2,360,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Cambrex in the 3rd quarter worth approximately $482,000. James Investment Research Inc. acquired a new stake in shares of Cambrex in the 3rd quarter worth approximately $2,437,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Cambrex by 54.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 210,069 shares of the biotechnology company’s stock worth $14,358,000 after acquiring an additional 74,162 shares during the period.

About Cambrex

Cambrex Corporation, a life sciences company, provides various products and services for the development and commercialization of new and generic therapeutics worldwide. Its products comprise active pharmaceutical ingredients and pharmaceutical intermediates that are used in the production of prescription and over-the-counter drug products, as well as other fine chemicals.

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