Chicago Bridge & Iron Company N.V. (NYSE:CBI) Now Covered by Analysts at Bank of America Corporation

Stock analysts at Bank of America Corporation assumed coverage on shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI) in a note issued to investors on Monday, August 7th, Marketbeat.com reports. The brokerage set an “underperform” rating and a $14.00 price target on the construction company’s stock. Bank of America Corporation’s price target points to a potential upside of 40.14% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Credit Suisse Group lowered Chicago Bridge & Iron Company N.V. from an “outperform” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Monday, July 24th. Citigroup Inc. reiterated a “neutral” rating and set a $20.00 price objective (down previously from $23.00) on shares of Chicago Bridge & Iron Company N.V. in a research note on Tuesday, July 18th. BidaskClub upgraded Chicago Bridge & Iron Company N.V. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. MKM Partners restated a “buy” rating and set a $34.00 target price on shares of Chicago Bridge & Iron Company N.V. in a research report on Friday, June 30th. Finally, Vertical Research restated a “buy” rating and set a $45.00 target price on shares of Chicago Bridge & Iron Company N.V. in a research report on Friday, June 30th. Five analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.81.

Chicago Bridge & Iron Company N.V. (NYSE CBI) traded up 2.15% on Monday, reaching $9.99. The company’s stock had a trading volume of 5,548,847 shares. The stock’s 50 day moving average price is $16.47 and its 200 day moving average price is $24.25. The firm’s market cap is $1.01 billion. Chicago Bridge & Iron Company N.V. has a 52-week low of $9.55 and a 52-week high of $36.56.

Chicago Bridge & Iron Company N.V. (NYSE:CBI) last released its quarterly earnings data on Wednesday, August 9th. The construction company reported ($2.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $3.81. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Chicago Bridge & Iron Company N.V. had a negative net margin of 10.54% and a negative return on equity of 3.92%. The business’s quarterly revenue was down 40.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. Equities research analysts expect that Chicago Bridge & Iron Company N.V. will post ($1.79) earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC increased its position in shares of Chicago Bridge & Iron Company N.V. by 8.5% in the first quarter. Clearbridge Investments LLC now owns 3,820 shares of the construction company’s stock worth $117,000 after buying an additional 300 shares during the last quarter. Brick & Kyle Associates increased its position in Chicago Bridge & Iron Company N.V. by 14.5% in the first quarter. Brick & Kyle Associates now owns 3,950 shares of the construction company’s stock valued at $121,000 after buying an additional 500 shares in the last quarter. Hanson & Doremus Investment Management increased its position in Chicago Bridge & Iron Company N.V. by 14.8% in the second quarter. Hanson & Doremus Investment Management now owns 5,050 shares of the construction company’s stock valued at $100,000 after buying an additional 650 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Chicago Bridge & Iron Company N.V. by 136.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,231 shares of the construction company’s stock valued at $160,000 after buying an additional 3,021 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in Chicago Bridge & Iron Company N.V. by 907.6% in the second quarter. Chicago Partners Investment Group LLC now owns 6,600 shares of the construction company’s stock valued at $130,000 after buying an additional 5,945 shares in the last quarter. Hedge funds and other institutional investors own 65.63% of the company’s stock.

Chicago Bridge & Iron Company N.V. 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.

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