Analysts Expect Colfax Corp (CFX) Will Post Quarterly Sales of $971.88 Million

Wall Street analysts expect Colfax Corp (NYSE:CFX) to report $971.88 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Colfax’s earnings. The lowest sales estimate is $960.30 million and the highest is $983.00 million. Colfax reported sales of $874.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.2%. The firm is expected to issue its next earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that Colfax will report full year sales of $3.66 billion for the current year, with estimates ranging from $3.64 billion to $3.69 billion. For the next financial year, analysts anticipate that the company will report sales of $4.08 billion, with estimates ranging from $3.66 billion to $5.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Colfax.

Colfax (NYSE:CFX) last issued its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Colfax had a return on equity of 6.97% and a net margin of 3.03%. The firm had revenue of $875.37 million during the quarter, compared to analysts’ expectations of $893.38 million.

Several analysts recently commented on CFX shares. Stifel Nicolaus boosted their price target on Colfax from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Deutsche Bank set a $30.00 target price on Colfax and gave the company a “hold” rating in a report on Friday, October 26th. Morgan Stanley assumed coverage on Colfax in a report on Monday, August 20th. They issued an “equal weight” rating and a $34.00 target price for the company. Cowen upgraded Colfax from a “market perform” rating to an “outperform” rating in a report on Friday, August 17th. Finally, Argus dropped their target price on Colfax from $40.00 to $34.00 and set a “buy” rating for the company in a report on Monday, October 29th. Four analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.77.

In related news, SVP Jason Maclean sold 1,120 shares of the stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $29.06, for a total transaction of $32,547.20. Following the transaction, the senior vice president now owns 9,716 shares of the company’s stock, valued at approximately $282,346.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ian Brander sold 3,232 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $26.18, for a total value of $84,613.76. Following the transaction, the chief executive officer now directly owns 26,136 shares in the company, valued at approximately $684,240.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,892 shares of company stock worth $183,658. Corporate insiders own 10.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in Colfax by 31.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 1,917 shares during the period. State of Alaska Department of Revenue increased its holdings in Colfax by 40.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,720 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 2,780 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Colfax by 182.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 3,150 shares during the period. TLP Group LLC increased its holdings in Colfax by 166,250.0% during the 3rd quarter. TLP Group LLC now owns 3,327 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 3,325 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Colfax by 36.2% in the 2nd quarter. Gamco Investors INC. ET AL now owns 13,077 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 3,477 shares during the last quarter. Institutional investors own 81.24% of the company’s stock.

Shares of CFX traded up $0.63 during trading hours on Friday, hitting $25.57. 1,035,270 shares of the stock were exchanged, compared to its average volume of 856,141. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.37 and a current ratio of 1.83. Colfax has a 12-month low of $23.00 and a 12-month high of $42.08. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.79 and a beta of 1.54.

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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