Zacks: Brokerages Expect Colfax Corp (CFX) Will Announce Quarterly Sales of $971.17 Million

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Equities analysts predict that Colfax Corp (NYSE:CFX) will post $971.17 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Colfax’s earnings. The lowest sales estimate is $960.20 million and the highest is $983.00 million. Colfax reported sales of $874.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.1%. The business is scheduled to issue its next earnings results on Tuesday, February 5th.

On average, analysts expect that Colfax will report full year sales of $3.65 billion for the current financial year, with estimates ranging from $3.64 billion to $3.69 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.82 billion, with estimates ranging from $3.66 billion to $3.89 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Colfax.

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

A number of equities research analysts have weighed in on CFX shares. Morgan Stanley decreased their target price on shares of Colfax from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Robert W. Baird reiterated a “buy” rating and set a $35.00 target price on shares of Colfax in a research note on Monday, October 29th. Argus decreased their target price on shares of Colfax from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Deutsche Bank set a $30.00 target price on shares of Colfax and gave the company a “hold” rating in a research note on Friday, October 26th. Finally, Oppenheimer reiterated a “buy” rating and set a $37.00 target price (down from $42.00) on shares of Colfax in a research note on Thursday, October 25th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $34.77.

Several hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 1,917 shares during the period. Royal Bank of Canada grew its position in shares of Colfax by 3.1% during the 1st quarter. Royal Bank of Canada now owns 90,748 shares of the industrial products company’s stock valued at $2,894,000 after acquiring an additional 2,709 shares during the period. State of Alaska Department of Revenue grew its position in shares of Colfax by 40.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,720 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 2,780 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of 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 acquiring an additional 3,150 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of Colfax by 6.4% during the 1st quarter. Guggenheim Capital LLC now owns 53,164 shares of the industrial products company’s stock valued at $1,696,000 after acquiring an additional 3,216 shares during the period. 80.10% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CFX opened at $28.96 on Wednesday. Colfax has a twelve month low of $26.25 and a twelve month high of $42.08. The company has a market capitalization of $3.39 billion, a P/E ratio of 16.64, a PEG ratio of 0.95 and a beta of 1.56. The company has a quick ratio of 1.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.33.

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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