Chicago Bridge & Iron Company N.V. (CBI) Given New $21.00 Price Target at Credit Suisse Group

Chicago Bridge & Iron Company N.V. (NYSE:CBI) had its price target trimmed by Credit Suisse Group from $34.00 to $21.00 in a report published on Monday, MarketBeat.com reports. The brokerage currently has an outperform rating on the construction company’s stock. The analysts noted that the move was a valuation call.

Several other research firms have also issued reports on CBI. TheStreet lowered Chicago Bridge & Iron Company N.V. from a c rating to a d+ rating in a research report on Friday, March 3rd. DA Davidson restated a buy rating on shares of Chicago Bridge & Iron Company N.V. in a research report on Monday, February 27th. Zacks Investment Research lowered Chicago Bridge & Iron Company N.V. from a buy rating to a hold rating in a research report on Thursday, March 2nd. MKM Partners restated a buy rating and set a $34.00 target price (down from $41.00) on shares of Chicago Bridge & Iron Company N.V. in a research report on Friday, May 19th. Finally, Citigroup Inc. decreased their target price on Chicago Bridge & Iron Company N.V. from $36.00 to $32.00 and set a neutral rating for the company in a research report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $30.82.

Shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI) opened at 15.2199 on Monday. The firm’s market capitalization is $1.53 billion. Chicago Bridge & Iron Company N.V. has a one year low of $14.80 and a one year high of $39.71. The firm has a 50-day moving average of $21.02 and a 200-day moving average of $29.39.

Chicago Bridge & Iron Company N.V. (NYSE:CBI) last announced its quarterly earnings data on Monday, May 8th. The construction company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.71. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.42 billion. Chicago Bridge & Iron Company N.V. had a positive return on equity of 17.98% and a negative net margin of 3.81%. Chicago Bridge & Iron Company N.V.’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, equities analysts predict that Chicago Bridge & Iron Company N.V. will post $3.53 earnings per share for the current fiscal year.

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The firm also recently disclosed a special dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 23rd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, June 21st. Chicago Bridge & Iron Company N.V.’s dividend payout ratio (DPR) is presently -6.93%.

In other news, insider Edgar C. Ray sold 1,300 shares of Chicago Bridge & Iron Company N.V. stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $31.00, for a total transaction of $40,300.00. Following the transaction, the insider now owns 109,196 shares in the company, valued at approximately $3,385,076. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Westley S. Stockton sold 1,200 shares of Chicago Bridge & Iron Company N.V. stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $31.00, for a total value of $37,200.00. Following the transaction, the vice president now owns 21,662 shares in the company, valued at approximately $671,522. The disclosure for this sale can be found here. Insiders have sold a total of 68,619 shares of company stock worth $2,100,012 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC boosted its position in Chicago Bridge & Iron Company N.V. by 8.5% in the first quarter. Clearbridge Investments LLC now owns 3,820 shares of the construction company’s stock valued at $117,000 after buying an additional 300 shares during the period. Achmea Investment Management B.V. acquired a new position in Chicago Bridge & Iron Company N.V. during the first quarter valued at $3,309,000. HighTower Advisors LLC boosted its position in Chicago Bridge & Iron Company N.V. by 26.1% in the first quarter. HighTower Advisors LLC now owns 279,015 shares of the construction company’s stock valued at $8,580,000 after buying an additional 57,828 shares during the period. Sii Investments Inc. WI acquired a new position in Chicago Bridge & Iron Company N.V. during the first quarter valued at $556,000. Finally, State Street Corp boosted its position in Chicago Bridge & Iron Company N.V. by 3.0% in the first quarter. State Street Corp now owns 1,442,415 shares of the construction company’s stock valued at $44,357,000 after buying an additional 42,486 shares during the period. Institutional investors and hedge funds own 66.14% of the company’s stock.

Chicago Bridge & Iron Company N.V. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CBI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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