Chicago Bridge & Iron Company (CBI) Posts Quarterly Earnings Results, Misses Expectations By $0.71 EPS

Chicago Bridge & Iron Company (NYSE:CBI) released its quarterly earnings results on Monday. The construction company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.95 by $0.71. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.42 billion. Chicago Bridge & Iron Company had a net margin of 2.51% and a return on equity of 22.54%. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. Chicago Bridge & Iron Company updated its FY17 guidance to $3.50-$4.00 EPS.

Chicago Bridge & Iron Company (NYSE:CBI) traded up 7.49% on Friday, reaching $20.80. 7,516,089 shares of the company’s stock were exchanged. Chicago Bridge & Iron Company has a 12 month low of $18.18 and a 12 month high of $39.71. The firm’s market capitalization is $2.10 billion. The firm has a 50-day moving average of $28.18 and a 200-day moving average of $31.41.

Earnings History for Chicago Bridge & Iron Company (NYSE:CBI)

The firm also recently declared a special dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 23rd will be issued a $0.07 dividend. The ex-dividend date is Wednesday, June 21st. Chicago Bridge & Iron Company’s dividend payout ratio (DPR) is presently 10.18%.

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In related news, EVP Duncan N. Wigney sold 1,600 shares of Chicago Bridge & Iron Company stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $29.76, for a total transaction of $47,616.00. Following the sale, the executive vice president now directly owns 22,811 shares in the company, valued at $678,855.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James W. Sabin sold 14,762 shares of Chicago Bridge & Iron Company stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $29.06, for a total value of $428,983.72. Following the transaction, the insider now owns 41,894 shares of the company’s stock, valued at approximately $1,217,439.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,219 shares of company stock valued at $2,147,628. 1.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC boosted its position in Chicago Bridge & Iron Company 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 in the last quarter. Sii Investments Inc. WI purchased a new stake in Chicago Bridge & Iron Company during the first quarter worth approximately $556,000. State Street Corp boosted its stake in Chicago Bridge & Iron Company by 3.0% in the first quarter. State Street Corp now owns 1,442,415 shares of the construction company’s stock worth $44,357,000 after buying an additional 42,486 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Chicago Bridge & Iron Company during the first quarter worth approximately $3,857,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Chicago Bridge & Iron Company by 52.1% in the first quarter. Oppenheimer & Co. Inc. now owns 97,294 shares of the construction company’s stock worth $2,992,000 after buying an additional 33,343 shares during the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Several analysts have recently commented on CBI shares. Citigroup Inc increased their price target on shares of Chicago Bridge & Iron Company from $30.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. Credit Suisse Group AG reiterated a “buy” rating on shares of Chicago Bridge & Iron Company in a report on Sunday, February 5th. DA Davidson reiterated a “buy” rating on shares of Chicago Bridge & Iron Company in a report on Monday, February 27th. Zacks Investment Research downgraded shares of Chicago Bridge & Iron Company from a “buy” rating to a “hold” rating in a research note on Thursday, March 2nd. Finally, TheStreet downgraded shares of Chicago Bridge & Iron Company from a “c” rating to a “d+” rating in a research note on Friday, March 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $33.16.

Chicago Bridge & Iron Company 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.

12 Month Chart for NYSE:CBI

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