Colfax (CFX) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Colfax (NYSE:CFX) issued its quarterly earnings results on Thursday. The industrial products company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02, MarketWatch Earnings reports. The company had revenue of $875.37 million for the quarter, compared to analysts’ expectations of $893.38 million. Colfax had a return on equity of 6.64% and a net margin of 3.47%. Colfax updated its FY 2018 guidance to $2.20-2.30 EPS.

Shares of NYSE CFX traded up $0.49 during trading on Friday, reaching $28.05. The company had a trading volume of 67,588 shares, compared to its average volume of 776,874. Colfax has a 12-month low of $26.25 and a 12-month high of $42.94. The stock has a market cap of $3.67 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.08 and a beta of 1.35. The company has a current ratio of 1.81, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30.

In other news, CEO Matthew L. Trerotola sold 20,488 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total transaction of $682,660.16. Following the transaction, the chief executive officer now directly owns 266,746 shares of the company’s stock, valued at $8,887,976.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.20% of the company’s stock.

Several equities research analysts recently weighed in on the company. Oppenheimer reaffirmed a “buy” rating on shares of Colfax in a research note on Thursday. ValuEngine cut Colfax from a “sell” rating to a “strong sell” rating in a research note on Friday, October 19th. Zacks Investment Research cut Colfax from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Stifel Nicolaus increased their target price on Colfax from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Deutsche Bank increased their target price on Colfax from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, September 28th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $36.10.

About Colfax

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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Earnings History for Colfax (NYSE:CFX)

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