Chicago Bridge & Iron Company (CBI) Given Buy Rating at MKM Partners

Chicago Bridge & Iron Company (NYSE:CBI)‘s stock had its “buy” rating reissued by MKM Partners in a research report issued on Friday. They currently have a $34.00 target price on the construction company’s stock, down from their prior target price of $41.00. MKM Partners’ price objective would suggest a potential upside of 75.71% from the stock’s current price.

CBI has been the topic of a number of other research reports. Robert W. Baird restated a “neutral” rating and set a $23.00 price target (down previously from $31.00) on shares of Chicago Bridge & Iron Company in a research note on Wednesday. Citigroup Inc upped their price target on shares of Chicago Bridge & Iron Company from $30.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, January 23rd. Argus lowered shares of Chicago Bridge & Iron Company from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Friday, March 17th. Zacks Investment Research lowered shares of Chicago Bridge & Iron Company from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Chicago Bridge & Iron Company in a research note on Tuesday, May 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Chicago Bridge & Iron Company currently has a consensus rating of “Hold” and a consensus price target of $33.16.

Analyst Recommendations for Chicago Bridge & Iron Company (NYSE:CBI)

Chicago Bridge & Iron Company (NYSE:CBI) traded up 8.346% during midday trading on Friday, reaching $20.965. 4,187,761 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $28.46 and its 200-day moving average is $31.49. The stock’s market capitalization is $2.11 billion. Chicago Bridge & Iron Company has a 12-month low of $18.18 and a 12-month high of $39.71.

Chicago Bridge & Iron Company (NYSE:CBI) last issued its quarterly earnings results on Monday, May 8th. The construction company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.71. Chicago Bridge & Iron Company had a net margin of 2.51% and a return on equity of 22.54%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, equities analysts forecast that Chicago Bridge & Iron Company will post $3.58 earnings per share for the current year.

The company also recently declared a special dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 23rd will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, June 21st. Chicago Bridge & Iron Company’s dividend payout ratio is presently 10.18%.

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In other Chicago Bridge & Iron Company news, insider James W. Sabin sold 14,762 shares of the stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $29.06, for a total transaction of $428,983.72. Following the transaction, the insider now directly owns 41,894 shares of the company’s stock, valued at $1,217,439.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Westley S. Stockton sold 1,200 shares of the stock in a transaction on Monday, April 10th. The shares were sold at an average price of $31.00, for a total transaction of $37,200.00. Following the transaction, the vice president now directly owns 21,662 shares in the company, valued at $671,522. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,219 shares of company stock worth $2,147,628. 1.40% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of CBI. Hanson & Doremus Investment Management bought a new position in Chicago Bridge & Iron Company during the fourth quarter valued at about $104,000. Menora Mivtachim Holdings LTD. bought a new position in Chicago Bridge & Iron Company during the fourth quarter valued at about $105,000. Cedar Wealth Management LLC increased its position in Chicago Bridge & Iron Company by 6.4% in the third quarter. Cedar Wealth Management LLC now owns 3,800 shares of the construction company’s stock valued at $107,000 after buying an additional 230 shares during the last quarter. Brick & Kyle Associates increased its position in Chicago Bridge & Iron Company by 14.5% in the first quarter. Brick & Kyle Associates now owns 3,950 shares of the construction company’s stock valued at $121,000 after buying an additional 500 shares during the last quarter. Finally, Ancora Advisors LLC bought a new position in Chicago Bridge & Iron Company during the fourth quarter valued at about $134,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

About Chicago Bridge & Iron Company

Chicago Bridge & Iron Company N.V. provides services to customers in energy infrastructure market. The Company provides services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.

5 Day Chart for NYSE:CBI

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