Colfax Corp. (CFX) Releases FY16 Earnings Guidance

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Colfax Corp. (NYSE:CFX) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.45-1.55 for the period, compared to the Thomson Reuters consensus estimate of $1.51.
Shares of Colfax Corp. (NYSE:CFX) traded down 2.97% on Tuesday, reaching $28.46. The company had a trading volume of 667,563 shares. The company has a 50-day moving average price of $29.91 and a 200-day moving average price of $28.64. Colfax Corp. has a one year low of $18.22 and a one year high of $37.39. The firm has a market cap of $3.49 billion, a P/E ratio of 28.21 and a beta of 1.69.
Colfax Corp. (NYSE:CFX) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Colfax Corp. had a return on equity of 5.55% and a net margin of 3.23%. The company had revenue of $957.20 million for the quarter, compared to analyst estimates of $943.50 million. During the same quarter last year, the firm earned $0.50 EPS. Colfax Corp.’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, analysts expect that Colfax Corp. will post $1.51 earnings per share for the current fiscal year.

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Several research firms recently commented on CFX. Citigroup Inc. raised their target price on Colfax Corp. from $25.00 to $26.00 and gave the stock a sell rating in a research report on Friday, July 29th. Barclays PLC restated an equal weight rating and set a $28.00 target price (up previously from $26.00) on shares of Colfax Corp. in a research report on Monday, July 18th. Cowen and Company restated a buy rating on shares of Colfax Corp. in a research report on Friday, June 10th. Oppenheimer Holdings Inc. restated a hold rating on shares of Colfax Corp. in a research report on Wednesday, May 18th. Finally, BB&T Corp. upgraded Colfax Corp. from a hold rating to a buy rating and set a $34.00 target price for the company in a research report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $30.17.
Several large investors have recently added to or reduced their stakes in the company. Fiera Capital Corp increased its stake in Colfax Corp. by 1.2% in the second quarter. Fiera Capital Corp now owns 76,700 shares of the company’s stock worth $2,029,000 after buying an additional 900 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Colfax Corp. during the second quarter worth approximately $270,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of Colfax Corp. during the second quarter worth approximately $1,323,000. Weiss Multi Strategy Advisers LLC bought a new stake in shares of Colfax Corp. during the second quarter worth approximately $2,650,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Colfax Corp. during the second quarter worth approximately $235,000. Institutional investors own 78.33% of the company’s stock.
Colfax Corp. Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid-handling and fabrication technology products and services to commercial and governmental customers around the world under Howden, ESAB and Colfax Fluid Handling brand names. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology.

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