Chicago Bridge & Iron Company N.V. (CBI) is Downgraded by Johnson Rice to Hold

Chicago Bridge & Iron Company N.V. (CBI) was Downgraded by Johnson Rice to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Johnson Rice advised their investors in a research report released on Sep 21, 2016.

Many Wall Street Analysts have commented on Chicago Bridge & Iron Company N.V.. Shares were Reiterated by MKM Partners on Jul 28, 2016 to “Buy” and Lowered the Price Target to $ 42 from a previous price target of $46 .Shares were Downgraded by Citigroup on Jul 25, 2016 to ” Neutral” and Lowered the Price Target to $ 38 from a previous price target of $48 .Shares were Downgraded by Robert W. Baird on Jul 22, 2016 to ” Neutral” and Lowered the Price Target to $ 40 from a previous price target of $45 .

On the company’s financial health, Chicago Bridge & Iron Company N.V. reported $1.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $1.21. The company had revenue of $2695.62 million for the quarter, compared to analysts expectations of $2821.97 million. The company’s revenue was down -15.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.55 EPS.

Chicago Bridge & Iron Company N.V. closed down -0.56 points or -2.05% at $26.78 with 15,64,646 shares getting traded on Tuesday. Post opening the session at $27.29, the shares hit an intraday low of $26.77 and an intraday high of $27.34 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Sep 13, 2016, Patrick K Mullen (Executive Vice President) sold 18,567 shares at $28.99 per share price. According to the SEC, on Aug 22, 2016, Philip K Asherman (President and CEO) sold 248,500 shares at $33.04 per share price. On Jun 7, 2016, Beth A Bailey (EXECUTIVE VICE PRESIDENT) sold 2,701 shares at $38.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Chicago Bridge and Iron Company N.V. (CBandI) provides a range of services to customers in the energy infrastructure market across the world. The Company also provides various Government services. CBandI operates through four segments: Engineering Construction and Maintenance which provides engineering procurement and construction (EPC) services for energy infrastructure facilities as well as integrated maintenance services; Fabrication Services which provides fabrication of piping systems process and nuclear modules; fabrication and erection of steel plate structures and manufacturing and distribution of pipe and fittings for various industries such as oil and gas mining mineral processing and power generation; Technology which provides licensed process technologies catalysts and engineered products and offers process planning and project development services and Environmental Solutions which provides environmental services for Government and private sector customers.

Chicago Bridge & Iron Company N.V.

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