Zacks: Brokerages Expect Colfax Corp (CFX) to Post $0.63 EPS

Equities analysts expect Colfax Corp (NYSE:CFX) to announce earnings per share (EPS) of $0.63 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Colfax’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.60. Colfax posted earnings per share of $0.45 in the same quarter last year, which suggests a positive year over year growth rate of 40%. The firm is expected to issue its next 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 fiscal year, with EPS estimates ranging from $2.22 to $2.29. For the next year, analysts expect that the business will report earnings of $2.55 per share, with EPS estimates ranging from $2.36 to $2.70. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Colfax.

Colfax (NYSE:CFX) last released its quarterly earnings results 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. Colfax had a net margin of 3.03% and a return on equity of 6.97%. The business had revenue of $875.37 million during the quarter, compared to analysts’ expectations of $893.38 million.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Colfax from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Thursday, August 9th. Robert W. Baird reissued a “buy” rating and issued a $38.00 price target (up previously from $36.00) on shares of Colfax in a research note on Monday, August 6th. Barclays boosted their price target on shares of Colfax from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 8th. Oppenheimer reissued a “hold” rating on shares of Colfax in a research note on Monday, August 6th. Finally, CIBC raised shares of Colfax from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 4th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.77.

CFX stock traded up $0.63 during midday trading on Wednesday, reaching $25.57. The company had a trading volume of 1,035,270 shares, compared to its average volume of 856,141. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.37. Colfax has a 1 year low of $23.00 and a 1 year high of $42.08. The stock has a market cap of $2.92 billion, a PE ratio of 14.70, a P/E/G ratio of 0.79 and a beta of 1.54.

In related news, SVP Jason Maclean sold 1,120 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $29.06, for a total transaction of $32,547.20. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ian Brander sold 3,232 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $26.18, for a total transaction of $84,613.76. Following the sale, the chief executive officer now owns 26,136 shares of the company’s stock, valued at $684,240.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,892 shares of company stock valued at $183,658. Company insiders own 10.20% of the company’s stock.

Large investors have recently bought and sold shares of the stock. TLP Group LLC raised its holdings in Colfax by 166,250.0% during the 3rd quarter. TLP Group LLC now owns 3,327 shares of the industrial products company’s stock valued at $120,000 after buying an additional 3,325 shares during the last quarter. SG Americas Securities LLC bought a new stake in Colfax during the 2nd quarter valued at $129,000. BNP Paribas Arbitrage SA raised its holdings in Colfax by 182.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock valued at $149,000 after buying an additional 3,150 shares during the last quarter. Jane Street Group LLC bought a new stake in Colfax during the 2nd quarter valued at $231,000. Finally, PNC Financial Services Group Inc. raised its holdings in Colfax by 31.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock valued at $247,000 after buying an additional 1,917 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

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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