Chicago Bridge & Iron Company NV (NYSE:CBI)‘s stock had its “buy” rating reiterated by investment analysts at Deutsche Bank in a note issued to investors on Tuesday, AnalystRatingsNetwork reports. They currently have a $93.00 price objective on the stock, up from their previous price objective of $87.00. Deutsche Bank’s price target suggests a potential upside of 18.31% from the stock’s previous close.
The analysts wrote, “CBI will be hosting an Investor Day in NYC on Wednesday, December 11th, and we expect this event to be a positive catalyst for shares. We expect management to strike a constructive tone towards 2014 by providing a strong new award outlook, above consensus EPS guidance and greater detail on its strategy for capital use/return. Against this backdrop, we are raising our price target from $87 to $93 and reiterating our Buy rating.”
CBI has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Chicago Bridge & Iron Company NV from $77.00 to $82.00 in a research note to investors on Monday, November 25th. They now have an “overweight” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Chicago Bridge & Iron Company NV from $59.00 to $75.00 in a research note to investors on Friday, November 1st. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $77.00.
Chicago Bridge & Iron Company NV (NYSE:CBI) traded up 0.22% on Tuesday, hitting $78.78. 869,801 shares of the company’s stock traded hands. Chicago Bridge & Iron Company NV has a 52-week low of $41.22 and a 52-week high of $80.14. The stock’s 50-day moving average is $75. and its 200-day moving average is $66.01. The company has a market cap of $8.469 billion and a price-to-earnings ratio of 23.73.
Chicago Bridge & Iron Company NV (NYSE:CBI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 106.8% on a year-over-year basis. On average, analysts predict that Chicago Bridge & Iron Company NV will post $4.16 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, December 18th.
Chicago Bridge & Iron Company N.V. (NYSE:CBI) is one of the integrated engineering, procurement and construction (EPC) services providers and process technology licensors, delivering solutions to customers primarily in the energy, petrochemical and natural resource industries.
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