Wall Street analysts forecast that Colfax Corp (NYSE:CFX) will announce sales of $754.12 million for the current quarter, according to Zacks. Seven analysts have made estimates for Colfax's earnings, with the highest sales estimate coming in at $768.30 million and the lowest estimate coming in at $739.25 million. Colfax reported sales of $846.52 million during the same quarter last year, which would suggest a negative year over year growth rate of 10.9%. The company is scheduled to announce its next earnings results on Thursday, October 29th.
According to Zacks, analysts expect that Colfax will report full-year sales of $3.02 billion for the current financial year, with estimates ranging from $3.00 billion to $3.05 billion. For the next year, analysts expect that the firm will report sales of $3.29 billion, with estimates ranging from $3.18 billion to $3.36 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side research firms that that provide coverage for Colfax.
Colfax (NYSE:CFX) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The firm had revenue of $620.40 million for the quarter, compared to the consensus estimate of $581.26 million. Colfax had a negative net margin of 0.33% and a positive return on equity of 6.54%. The business's quarterly revenue was down 31.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS.
A number of research firms have commented on CFX. KeyCorp raised their target price on shares of Colfax from $33.00 to $36.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. UBS Group initiated coverage on shares of Colfax in a research report on Tuesday, September 15th. They set a "neutral" rating and a $36.00 price objective on the stock. ValuEngine upgraded shares of Colfax from a "sell" rating to a "hold" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on shares of Colfax in a research report on Friday, May 29th. They set an "overweight" rating and a $32.00 price objective on the stock. Finally, Bank of America lifted their price objective on shares of Colfax from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, September 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of "Hold" and a consensus price target of $30.08.
CFX opened at $30.51 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.89 and a debt-to-equity ratio of 0.65. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -435.86, a PEG ratio of 4.38 and a beta of 1.96. The company's 50 day moving average is $33.45 and its 200 day moving average is $27.75. Colfax has a 12-month low of $12.23 and a 12-month high of $39.30.
In related news, CFO Christopher M. Hix sold 6,719 shares of Colfax stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.24, for a total value of $189,744.56. Following the completion of the sale, the chief financial officer now directly owns 66,986 shares in the company, valued at $1,891,684.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew L. Trerotola sold 19,481 shares of Colfax stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $30.83, for a total value of $600,599.23. Following the completion of the sale, the chief executive officer now owns 223,006 shares of the company's stock, valued at $6,875,274.98. The disclosure for this sale can be found here. Insiders have sold 28,691 shares of company stock valued at $878,326 over the last three months. Insiders own 12.00% of the company's stock.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. bought a new stake in shares of Colfax in the first quarter valued at about $33,000. Cullen Frost Bankers Inc. bought a new position in Colfax in the second quarter worth about $48,000. Twin Tree Management LP bought a new position in Colfax in the second quarter worth about $54,000. Tower Research Capital LLC TRC bought a new position in Colfax in the first quarter worth about $64,000. Finally, Cerebellum GP LLC bought a new position in Colfax in the second quarter worth about $82,000.
Colfax Company Profile
Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.
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