Colfax Corp (CFX) Expected to Post Earnings of $0.62 Per Share

Wall Street brokerages expect Colfax Corp (NYSE:CFX) to post earnings per share of $0.62 for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Colfax’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.66. Colfax posted earnings per share of $0.45 in the same quarter last year, which would suggest a positive year over year growth rate of 37.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Colfax will report full year earnings of $2.25 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.29. For the next year, analysts anticipate that the firm will report earnings of $2.54 per share, with EPS estimates ranging from $2.36 to $2.65. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Colfax.

Colfax (NYSE:CFX) last announced its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. The business had revenue of $875.37 million during the quarter, compared to the consensus estimate of $893.38 million. Colfax had a return on equity of 6.97% and a net margin of 3.03%.

A number of brokerages recently weighed in on CFX. ValuEngine raised Colfax from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Deutsche Bank upped their price objective on Colfax from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, September 28th. Stifel Nicolaus increased their target price on Colfax from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Zacks Investment Research downgraded Colfax from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, CIBC upgraded Colfax from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 4th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $34.77.

In other news, SVP Jason Maclean sold 1,120 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $29.06, for a total value of $32,547.20. Following the sale, the senior vice president now directly owns 9,716 shares in the company, valued at approximately $282,346.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Colfax by 10.7% during the 2nd quarter. BlackRock Inc. now owns 4,660,022 shares of the industrial products company’s stock worth $142,829,000 after buying an additional 450,807 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Colfax by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 4,126,083 shares of the industrial products company’s stock worth $148,786,000 after purchasing an additional 84,025 shares in the last quarter. Cooke & Bieler LP increased its holdings in Colfax by 226.3% during the 2nd quarter. Cooke & Bieler LP now owns 3,820,329 shares of the industrial products company’s stock worth $117,093,000 after purchasing an additional 2,649,609 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Colfax by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,023,748 shares of the industrial products company’s stock worth $92,677,000 after purchasing an additional 179,865 shares in the last quarter. Finally, Weitz Investment Management Inc. increased its holdings in Colfax by 1.5% during the 2nd quarter. Weitz Investment Management Inc. now owns 1,664,900 shares of the industrial products company’s stock worth $51,029,000 after purchasing an additional 25,000 shares in the last quarter. 80.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CFX traded down $0.64 during trading on Monday, reaching $28.09. The company had a trading volume of 1,322,059 shares, compared to its average volume of 1,107,171. The firm has a market cap of $3.40 billion, a P/E ratio of 16.14, a PEG ratio of 0.96 and a beta of 1.56. The company has a current ratio of 1.83, a quick ratio of 1.37 and a debt-to-equity ratio of 0.33. Colfax has a fifty-two week low of $26.25 and a fifty-two week high of $42.08.

Colfax Company Profile

Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.

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Earnings History and Estimates for Colfax (NYSE:CFX)

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