KeyCorp Analysts Cut Earnings Estimates for Chicago Bridge & Iron Company (CBI)

Chicago Bridge & Iron Company (NYSE:CBI) – Research analysts at KeyCorp decreased their Q2 2017 earnings per share estimates for Chicago Bridge & Iron Company in a report issued on Monday. KeyCorp analyst T. Afzal now anticipates that the construction company will post earnings per share of $0.97 for the quarter, down from their previous forecast of $1.06. KeyCorp also issued estimates for Chicago Bridge & Iron Company’s Q3 2017 earnings at $1.06 EPS and FY2018 earnings at $4.57 EPS.

CBI has been the topic of several other research reports. Jefferies Group LLC restated a “buy” rating and issued a $35.00 target price on shares of Chicago Bridge & Iron Company in a report on Tuesday. Citigroup Inc restated a “neutral” rating and set a $32.00 price objective (down from $36.00) on shares of Chicago Bridge & Iron Company in a research report on Tuesday. Credit Suisse Group AG set a $40.00 price objective on shares of Chicago Bridge & Iron Company and gave the company a “buy” rating in a research report on Saturday, April 22nd. MKM Partners reiterated a “buy” rating and issued a $41.00 price target on shares of Chicago Bridge & Iron Company in a report on Tuesday, March 28th. Finally, Argus downgraded shares of Chicago Bridge & Iron Company from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a report on Friday, March 17th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $35.89.

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

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Chicago Bridge & Iron Company (NYSE:CBI) opened at 26.92 on Wednesday. The stock has a 50 day moving average price of $29.92 and a 200-day moving average price of $31.85. The stock’s market cap is $2.70 billion. Chicago Bridge & Iron Company has a 52 week low of $25.03 and a 52 week high of $39.71.

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

The company also recently disclosed a special dividend, which will be paid on Friday, June 30th. Investors 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 dividend payout ratio (DPR) is presently 10.18%.

In related news, VP Westley S. Stockton sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $31.00, for a total transaction of $37,200.00. Following the completion of the transaction, the vice president now owns 21,662 shares in the company, valued at approximately $671,522. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Duncan N. Wigney sold 1,600 shares of the business’s 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 transaction, the executive vice president now owns 22,811 shares of the company’s stock, valued at approximately $678,855.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,219 shares of company stock valued at $2,147,628. 1.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CBI. Sheets Smith Wealth Management raised its position in Chicago Bridge & Iron Company by 1.5% in the third quarter. Sheets Smith Wealth Management now owns 61,667 shares of the construction company’s stock valued at $1,729,000 after buying an additional 900 shares during the period. Scopus Asset Management L.P. purchased a new position in Chicago Bridge & Iron Company during the third quarter valued at approximately $1,402,000. BlackRock Advisors LLC raised its position in Chicago Bridge & Iron Company by 3.7% in the third quarter. BlackRock Advisors LLC now owns 58,396 shares of the construction company’s stock valued at $1,637,000 after buying an additional 2,102 shares during the period. California State Teachers Retirement System raised its position in Chicago Bridge & Iron Company by 0.9% in the third quarter. California State Teachers Retirement System now owns 228,989 shares of the construction company’s stock valued at $6,419,000 after buying an additional 2,100 shares during the period. Finally, Wellington Shields & Co. LLC raised its position in Chicago Bridge & Iron Company by 27.5% in the third quarter. Wellington Shields & Co. LLC now owns 35,858 shares of the construction company’s stock valued at $1,005,000 after buying an additional 7,733 shares during the period. Hedge funds and other institutional investors own 67.93% of the company’s stock.

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.

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