Colfax Corp (CFX) Releases Earnings Results, Beats Expectations By $0.02 EPS

Colfax Corp (CFX) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.39. The company posted revenue of $957.25 million in the period, compared to analysts expectations of $942.67 million. The company’s revenue was down -6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Colfax Corp. Company shares were Upgraded by Barclays on May 25, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 26 from a previous price target of $24 .BB&T Capital Mkts Upgraded Colfax Corp on May 17, 2016 to ” Buy”, Price Target of the shares are set at $34.Shares were Reiterated by Stifel on May 4, 2016 to “Buy” and Lowered the Price Target to $ 33 from a previous price target of $36 .

Colfax Corp closed down -0.16 points or -0.54% at $29.2 with 9,32,931 shares getting traded on Thursday. Post opening the session at $29.47, the shares hit an intraday low of $28.33 and an intraday high of $29.47 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Mar 16, 2016, Rajiv Vinnakota (director) sold 2,038 shares at $27.31 per share price. According to the SEC, on Mar 1, 2016, Stephen Wittig (SVP – CBS & Supply Chain) sold 746 shares at $25.35 per share price. On Feb 22, 2016, Lynn H Clark (SVP – Global Human Resources) sold 193 shares at $25.09 per share price, according to the Form-4 filing with the securities and exchange commission.

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 the Howden ESAB and Colfax Fluid Handling brand names. The Company’s segments include gas and fluid handling and fabrication technology. The gas and fluid handling segment supplies a range of products including heavy-duty centrifugal and axial fans rotary heat exchangers gas compressors pumps fluid-handling systems and controls and specialty valves which serves customers in the power generation oil gas and petrochemical mining marine (including defense) and general industrial and other end markets. Fabrication technology segment formulates develops manufactures and supplies consumable products and equipment for the cutting and joining of steels aluminum and other metals and metal alloys.

Colfax Corp

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