Colfax Corp to Post Q2 2019 Earnings of $0.61 Per Share, Oppenheimer Forecasts (CFX)

Colfax Corp (NYSE:CFX) – Oppenheimer dropped their Q2 2019 earnings per share (EPS) estimates for Colfax in a research report issued to clients and investors on Tuesday, May 14th. Oppenheimer analyst B. Blair now expects that the industrial products company will post earnings per share of $0.61 for the quarter, down from their previous forecast of $0.65. Oppenheimer has a “Buy” rating on the stock. Oppenheimer also issued estimates for Colfax’s FY2019 earnings at $2.55 EPS.

Other equities research analysts also recently issued research reports about the company. Raymond James reaffirmed a “buy” rating and set a $21.00 price objective on shares of Colfax in a research report on Thursday, May 2nd. Goldman Sachs Group initiated coverage on Colfax in a research report on Friday, April 5th. They set a “buy” rating and a $34.00 price objective on the stock. Gabelli reaffirmed a “buy” rating on shares of Colfax in a research report on Thursday, February 14th. Longbow Research reaffirmed a “buy” rating and set a $38.00 price objective on shares of Colfax in a research report on Thursday, March 21st. Finally, Barclays raised Colfax from an “underweight” rating to an “equal weight” rating and set a $28.70 price objective on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $30.05.

Shares of CFX stock opened at $26.49 on Thursday. Colfax has a 1-year low of $18.95 and a 1-year high of $37.05. The stock has a market cap of $3.12 billion, a P/E ratio of 11.47, a P/E/G ratio of 0.82 and a beta of 1.57. 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 (NYSE:CFX) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Colfax had a return on equity of 8.16% and a net margin of 1.68%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in the business. Triad Investment Management lifted its position in Colfax by 45.8% during the 1st quarter. Triad Investment Management now owns 140,251 shares of the industrial products company’s stock worth $4,163,000 after acquiring an additional 44,053 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Colfax by 23.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 11,293 shares of the industrial products company’s stock valued at $228,000 after buying an additional 2,136 shares during the last quarter. Pinnacle Bank acquired a new position in shares of Colfax during the fourth quarter valued at about $36,000. Stephens Inc. AR acquired a new position in shares of Colfax during the fourth quarter valued at about $1,898,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Colfax during the fourth quarter valued at about $340,000. Institutional investors own 81.11% of the company’s stock.

In other Colfax news, SVP Lynn H. Clark sold 2,666 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $26.50, for a total value of $70,649.00. Following the completion of the sale, the senior vice president now directly owns 35,662 shares in the company, valued at $945,043. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ian Brander sold 4,260 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $27.01, for a total value of $115,062.60. Following the completion of the sale, the chief executive officer now owns 21,876 shares of the company’s stock, valued at $590,870.76. The disclosure for this sale can be found here. Company insiders own 12.00% of the company’s stock.

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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