Zacks: Analysts Anticipate Colfax Corp (NYSE:CFX) Will Post Quarterly Sales of $1.25 Billion

Equities analysts expect Colfax Corp (NYSE:CFX) to announce sales of $1.25 billion for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Colfax’s earnings. The highest sales estimate is $1.26 billion and the lowest is $1.24 billion. Colfax posted sales of $925.29 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 35.1%. The company is scheduled to issue its next earnings results on Monday, August 5th.

On average, analysts expect that Colfax will report full-year sales of $4.85 billion for the current financial year, with estimates ranging from $4.83 billion to $4.87 billion. For the next fiscal year, analysts expect that the business will post sales of $5.09 billion, with estimates ranging from $5.01 billion to $5.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Colfax.

Colfax (NYSE:CFX) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.04. Colfax had a return on equity of 8.16% and a net margin of 1.68%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue was up 14.4% on a year-over-year basis.



CFX has been the subject of a number of research reports. CIBC reiterated a “hold” rating on shares of Just Energy Group in a research report on Friday, June 7th. Morgan Stanley raised their target price on Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 10th. Deutsche Bank set a $28.00 target price on Colfax and gave the stock a “hold” rating in a research note on Wednesday, July 10th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Raymond James reiterated a “buy” rating and set a $21.00 price objective on shares of Colfax in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Colfax presently has an average rating of “Buy” and an average target price of $28.81.

In other news, insider Shyam Kambeyanda sold 11,764 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $26.27, for a total transaction of $309,040.28. Following the transaction, the insider now directly owns 51,263 shares in the company, valued at approximately $1,346,679.01. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher M. Hix sold 4,750 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $27.08, for a total value of $128,630.00. Following the transaction, the chief financial officer now owns 29,841 shares in the company, valued at $808,094.28. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System bought a new stake in Colfax in the second quarter worth approximately $320,000. CenturyLink Investment Management Co raised its holdings in shares of Colfax by 2.3% in the 2nd quarter. CenturyLink Investment Management Co now owns 42,239 shares of the industrial products company’s stock valued at $1,184,000 after acquiring an additional 934 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Colfax by 53.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 38,448 shares of the industrial products company’s stock valued at $1,078,000 after acquiring an additional 13,448 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Colfax in the 2nd quarter valued at about $83,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Colfax in the 2nd quarter valued at about $320,000. Institutional investors and hedge funds own 93.32% of the company’s stock.

Shares of CFX stock traded down $0.32 during mid-day trading on Wednesday, hitting $27.01. The company’s stock had a trading volume of 1,542,375 shares, compared to its average volume of 2,015,457. The firm has a market capitalization of $3.21 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.89 and a beta of 1.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.06 and a current ratio of 1.53. Colfax has a 52-week low of $18.95 and a 52-week high of $37.05. The company has a 50-day moving average of $26.68.

About Colfax

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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Earnings History and Estimates for Colfax (NYSE:CFX)

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