Colfax Corp (NYSE:CFX) – Equities researchers at Gabelli increased their FY2017 EPS estimates for shares of Colfax Corp in a research report issued on Monday, Zacks Investment Research reports. Gabelli analyst M. Trusz now expects that the industrial products company will post earnings of $1.75 per share for the year, up from their previous forecast of $1.65. Gabelli also issued estimates for Colfax Corp’s FY2018 earnings at $2.00 EPS, FY2019 earnings at $2.25 EPS, FY2020 earnings at $2.50 EPS and FY2021 earnings at $2.75 EPS.
Colfax Corp (NYSE:CFX) last posted its earnings results on Friday, May 5th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $845 million for the quarter, compared to analysts’ expectations of $820.23 million. Colfax Corp had a net margin of 3.51% and a return on equity of 6.02%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS.
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CFX has been the topic of a number of other research reports. Stifel Nicolaus upped their target price on Colfax Corp from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Seaport Global Securities upgraded Colfax Corp from an “accumulate” rating to a “buy” rating in a research report on Wednesday, February 1st. Argus raised Colfax Corp from a “hold” rating to a “buy” rating in a report on Tuesday, January 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $44.00 target price on shares of Colfax Corp in a research note on Monday, April 17th. Finally, Zacks Investment Research raised Colfax Corp from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Monday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $42.29.
Colfax Corp (NYSE:CFX) traded up 2.14% during trading on Tuesday, reaching $40.51. 547,788 shares of the company’s stock traded hands. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 34.62 and a beta of 1.52. The company has a 50 day moving average of $39.53 and a 200 day moving average of $38.18. Colfax Corp has a one year low of $24.62 and a one year high of $41.99.
Several institutional investors have recently added to or reduced their stakes in CFX. BlackRock Inc. boosted its position in Colfax Corp by 13,409.0% in the first quarter. BlackRock Inc. now owns 4,103,892 shares of the industrial products company’s stock worth $161,119,000 after buying an additional 4,073,513 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Colfax Corp during the fourth quarter worth $67,953,000. FMR LLC boosted its position in Colfax Corp by 90.6% in the fourth quarter. FMR LLC now owns 3,194,850 shares of the industrial products company’s stock worth $114,791,000 after buying an additional 1,519,070 shares in the last quarter. Norges Bank acquired a new position in Colfax Corp during the fourth quarter worth $49,248,000. Finally, Point72 Asset Management L.P. raised its position in Colfax Corp by 1,233.6% in the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock valued at $35,499,000 after buying an additional 836,400 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.
About Colfax Corp
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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