Oppenheimer Weighs in on Colfax Corp’s FY2018 Earnings (CFX)

Colfax Corp (NYSE:CFX) – Analysts at Oppenheimer cut their FY2018 earnings estimates for Colfax in a note issued to investors on Thursday. Oppenheimer analyst J. Giannakouros now expects that the industrial products company will post earnings of $1.70 per share for the year, down from their previous forecast of $1.75. Oppenheimer currently has a “Hold” rating on the stock.

Colfax (NYSE:CFX) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Colfax had a net margin of 4.89% and a return on equity of 6.26%. The company had revenue of $844.50 million for the quarter, compared to analyst estimates of $901.09 million. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year.

Several other analysts have also commented on CFX. BidaskClub lowered shares of Colfax from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. KeyCorp upgraded shares of Colfax from a “sector weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research report on Friday, August 25th. They noted that the move was a valuation call. Argus reiterated a “buy” rating and issued a $50.00 price target on shares of Colfax in a research report on Tuesday, August 29th. Cowen reiterated a “buy” rating and issued a $50.00 price target on shares of Colfax in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Colfax in a research report on Wednesday, September 27th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $46.40.

Colfax (NYSE:CFX) traded down $0.12 during mid-day trading on Monday, hitting $36.41. 755,852 shares of the stock traded hands, compared to its average volume of 713,574. The firm has a market capitalization of $4,595.91, a price-to-earnings ratio of 22.49, a PEG ratio of 2.18 and a beta of 1.26. Colfax has a twelve month low of $33.31 and a twelve month high of $43.29. The company has a quick ratio of 1.47, a current ratio of 1.80 and a debt-to-equity ratio of 0.38.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp boosted its position in Colfax by 0.7% during the second quarter. M&T Bank Corp now owns 5,510 shares of the industrial products company’s stock worth $216,000 after acquiring an additional 41 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Colfax by 2.0% during the second quarter. Teacher Retirement System of Texas now owns 7,461 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 145 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Colfax by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 251 shares during the last quarter. US Bancorp DE boosted its position in Colfax by 0.9% during the second quarter. US Bancorp DE now owns 27,185 shares of the industrial products company’s stock worth $1,070,000 after acquiring an additional 253 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Colfax by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 74.86% of the company’s stock.

In related news, SVP Stephen Wittig sold 29,189 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the sale, the senior vice president now owns 15,479 shares in the company, valued at $608,324.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.60% of the stock is currently owned by company insiders.

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About Colfax

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.

Earnings History and Estimates for Colfax (NYSE:CFX)

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