Colfax Corp (CFX) Expected to Post Quarterly Sales of $817.34 Million

Brokerages expect Colfax Corp (NYSE:CFX) to announce sales of $817.34 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Colfax’s earnings, with the highest sales estimate coming in at $852.60 million and the lowest estimate coming in at $771.40 million. Colfax posted sales of $844.93 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The company is scheduled to report its next earnings results on Friday, May 4th.

According to Zacks, analysts expect that Colfax will report full year sales of $817.34 million for the current fiscal year, with estimates ranging from $3.52 billion to $3.67 billion. For the next financial year, analysts forecast that the business will post sales of $3.76 billion per share, with estimates ranging from $3.70 billion to $3.80 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Colfax.

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Colfax (NYSE:CFX) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Colfax had a return on equity of 5.95% and a net margin of 4.28%. The company had revenue of $874.00 million for the quarter, compared to analyst estimates of $894.02 million. During the same period in the prior year, the company posted $0.46 EPS. Colfax’s quarterly revenue was up 7.6% on a year-over-year basis.

CFX has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed a “hold” rating on shares of Colfax in a research report on Thursday, November 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 target price on shares of Colfax in a research report on Monday, December 11th. Zacks Investment Research raised Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, January 9th. KeyCorp cut their target price on Colfax from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 7th. Finally, Gabelli raised Colfax from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Colfax has an average rating of “Hold” and an average target price of $42.74.

Shares of CFX stock traded down $0.74 on Wednesday, hitting $30.92. The company’s stock had a trading volume of 555,405 shares, compared to its average volume of 714,152. Colfax has a one year low of $30.85 and a one year high of $43.29. The firm has a market cap of $3,904.57, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.49 and a current ratio of 1.89.

In related news, CEO Ian Brander sold 1,240 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.46, for a total transaction of $41,490.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP A. Lynne Puckett sold 7,270 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $42.01, for a total value of $305,412.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,445 shares of company stock worth $444,983. Corporate insiders own 10.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in Colfax by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after buying an additional 251 shares during the last quarter. FNY Managed Accounts LLC bought a new position in Colfax during the 3rd quarter worth $160,000. Valeo Financial Advisors LLC bought a new position in Colfax during the 3rd quarter worth $177,000. Itau Unibanco Holding S.A. grew its stake in Colfax by 225.8% during the 4th quarter. Itau Unibanco Holding S.A. now owns 5,170 shares of the industrial products company’s stock worth $205,000 after buying an additional 3,583 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. bought a new position in Colfax during the 3rd quarter worth $206,000. Hedge funds and other institutional investors own 77.54% of the company’s stock.

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Colfax Company Profile

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.

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Earnings History and Estimates for Colfax (NYSE:CFX)

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