Baird Downgrades Chicago Bridge & Iron Company N.V. to Neutral with Price Target $40.00

Brokerage firm Baird Downgrades its rating on Chicago Bridge & Iron Company N.V.(NYSE:CBI). In a research note issued to the investors, the brokerage major Lowers the price-target to $40.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Baird was issued on Jul 22, 2016.

In a different note, On May 16, 2016, Johnson Rice said it Upgrades its rating on Chicago Bridge & Iron Company N.V.. In the research note, the firm Raises the price-target to $55.00 per share. The shares have been rated ‘Buy’ by the firm.

Chicago Bridge & Iron Company N.V. (CBI) shares turned negative on Thursdays trading session with the shares closing down -1.14 points or -3.21% at a volume of 31,53,358. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $36.02. The peak price level was also seen at $36.02 while the days lowest was $34.4. Finally the shares closed at $34.41. The 52-week high of the shares is $53.73 while the 52-week low is $31.3. According to the latest information available, the market cap of the company is $3,623 M.

Chicago Bridge & Iron Company N.V.(CBI) last announced its earnings results on Apr 20, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.67B. Analysts had an estimated revenue of $2.82B. Earnings per share were $1.01. Analysts had estimated an EPS of $1.13.

Several Insider Transactions has been reported to the SEC. On Jun 24, 2016, Patrick K Mullen (Executive Vice President) sold 11,985 shares at $36.65 per share price.Also, On Jun 7, 2016, Beth A Bailey (EXECUTIVE VICE PRESIDENT) sold 2,701 shares at $38.00 per share price.On Jun 1, 2016, Westley S. Stockton (VP, Controller, CAO) sold 1,561 shares at $38.70 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *