Macquarie Maintains Chicago Bridge & Iron Company N.V. to Underperform with Price Target $20.00

Brokerage firm Macquarie Maintains 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 $20.00 per share. The shares have been rated Underperform. The rating by Macquarie was issued on Sep 15, 2016.

In a different note, On Sep 21, 2016, Johnson Rice said it Downgrades its rating on Chicago Bridge & Iron Company N.V.. The shares have been rated ‘Hold’ by the firm. On Jul 28, 2016, MKM Partners said it Maintains its rating on Chicago Bridge & Iron Company N.V.. In the research note, the firm Lowers the price-target to $46.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 25, 2016, Citigroup said it Downgrades its rating on Chicago Bridge & Iron Company N.V.. In the research note, the firm Lowers the price-target to $48.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 22, 2016, Baird said it Downgrades its rating on Chicago Bridge & Iron Company N.V.. In the research note, the firm Lowers the price-target to $45.00 per share. The shares have been rated ‘Neutral’ by the firm.

Chicago Bridge & Iron Company N.V. (CBI) shares turned negative on Tuesdays trading session with the shares closing down -0.56 points or -2.05% at a volume of 15,64,646. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.34. The peak price level was also seen at $27.34 while the days lowest was $26.77. Finally the shares closed at $26.78. The 52-week high of the shares is $46.39 while the 52-week low is $26.77. According to the latest information available, the market cap of the company is $2,763 M.

Chicago Bridge & Iron Company N.V.(CBI) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.70B. Analysts had an estimated revenue of $2.82B. Earnings per share were $1.17. Analysts had estimated an EPS of $1.21.

Several Insider Transactions has been reported to the SEC. On Sep 13, 2016, Patrick K Mullen (Executive Vice President) sold 18,567 shares at $28.99 per share price.Also, 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.

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