Chicago Bridge & Iron Company (CBI) Updates FY17 Earnings Guidance

Chicago Bridge & Iron Company (NYSE:CBI) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.50-$4.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.17. The company issued revenue guidance of $9.5-$10.5 billion, compared to the consensus revenue estimate of $9.60 billion.

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

Chicago Bridge & Iron Company (NYSE:CBI) last announced its quarterly earnings results on Monday, May 8th. The construction company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by $0.71. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.42 billion. Chicago Bridge & Iron Company had a return on equity of 22.54% and a net margin of 2.51%. Chicago Bridge & Iron Company’s revenue was down 11.4% on a year-over-year basis. During the same period last year, the business earned $1.01 EPS. On average, equities research analysts anticipate that Chicago Bridge & Iron Company will post $3.58 EPS for the current year.

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

The business also recently announced a special dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 23rd will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, June 21st. Chicago Bridge & Iron Company’s payout ratio is 10.18%.

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

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

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About Chicago Bridge & Iron Company

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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