Chicago Bridge & Iron Company N.V. (CBI) Downgraded by Jefferies Group LLC to “Hold”

Jefferies Group LLC cut shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI) from a buy rating to a hold rating in a report released on Wednesday. They currently have $12.00 price objective on the construction company’s stock, down from their prior price objective of $35.00. Jefferies Group also issued estimates for Chicago Bridge & Iron Company N.V.’s FY2020 earnings at $4.23 EPS.

Several other brokerages have also issued reports on CBI. Credit Suisse Group set a $40.00 target price on Chicago Bridge & Iron Company N.V. and gave the stock a buy rating in a research report on Saturday, April 22nd. Citigroup Inc. lowered their target price on Chicago Bridge & Iron Company N.V. from $36.00 to $32.00 and set a neutral rating for the company in a research report on Tuesday, May 9th. Vertical Research reaffirmed a buy rating and set a $45.00 target price on shares of Chicago Bridge & Iron Company N.V. in a research report on Friday, June 30th. Robert W. Baird reaffirmed a neutral rating and set a $23.00 target price (down from $31.00) on shares of Chicago Bridge & Iron Company N.V. in a research report on Wednesday, May 17th. Finally, Deutsche Bank AG raised their target price on Chicago Bridge & Iron Company N.V. from $35.00 to $38.00 and gave the stock a buy rating in a research report on Monday, May 22nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Chicago Bridge & Iron Company N.V. has a consensus rating of Hold and an average target price of $24.81.

Shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI) traded down 0.4423% during midday trading on Wednesday, hitting $9.9259. The company had a trading volume of 2,931,777 shares. The stock’s market capitalization is $1.00 billion. The stock’s 50-day moving average price is $17.10 and its 200-day moving average price is $24.52. Chicago Bridge & Iron Company N.V. has a one year low of $9.66 and a one year high of $36.56.

Chicago Bridge & Iron Company N.V. (NYSE:CBI) last announced its earnings results on Wednesday, August 9th. The construction company reported ($2.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $3.81. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $2.49 billion. Chicago Bridge & Iron Company N.V. had a negative return on equity of 3.92% and a negative net margin of 10.54%. The firm’s revenue for the quarter was down 40.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.17 earnings per share. Analysts predict that Chicago Bridge & Iron Company N.V. will post $0.01 EPS for the current year.

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Several hedge funds have recently modified their holdings of the stock. Teachers Advisors LLC increased its stake in shares of Chicago Bridge & Iron Company N.V. by 20.6% in the fourth quarter. Teachers Advisors LLC now owns 132,500 shares of the construction company’s stock valued at $4,207,000 after buying an additional 22,593 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Chicago Bridge & Iron Company N.V. by 72.4% in the first quarter. Bank of Montreal Can now owns 46,087 shares of the construction company’s stock valued at $1,418,000 after buying an additional 19,361 shares in the last quarter. Americafirst Capital Management LLC increased its stake in shares of Chicago Bridge & Iron Company N.V. by 8.0% in the first quarter. Americafirst Capital Management LLC now owns 9,851 shares of the construction company’s stock valued at $303,000 after buying an additional 732 shares in the last quarter. SFE Investment Counsel increased its stake in shares of Chicago Bridge & Iron Company N.V. by 3.8% in the first quarter. SFE Investment Counsel now owns 180,935 shares of the construction company’s stock valued at $5,564,000 after buying an additional 6,609 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its stake in shares of Chicago Bridge & Iron Company N.V. by 2.1% in the first quarter. Patten & Patten Inc. TN now owns 9,885 shares of the construction company’s stock valued at $304,000 after buying an additional 200 shares in the last quarter. Institutional investors own 65.63% of the company’s stock.

About Chicago Bridge & Iron Company N.V.

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.