|Bid||34.01 x 1000|
|Ask||36.49 x 900|
|Day's Range||34.85 - 36.00|
|52 Week Range||19.73 - 48.70|
|Beta (3Y Monthly)||2.28|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 4, 2019 - Nov 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||48.67|
Circor (CIR) delivered earnings and revenue surprises of -2.17% and -2.41%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
The Zacks Analyst Blog Highlights: AZZ, CIRCOR International, Intevac, Cisco Systems and Stratasys
The significant increase in June's orders is primarily due to a 75% jump in aircraft orders, which fell 50% in May and nearly 40% in April.
Circor (CIR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Eaton (ETN) is expected to gain from organic and inorganic assets when it reports Q2 earnings on Jul 30, 2019. However, negative foreign currency translation is expected to offset the positives.
This rating actions concludes the review for downgrade initiated on May 22nd, 2019 after Crane announced its unsolicited offer to acquire CIRCOR International, Inc. (B2, Stable) ("CIRCOR") in a transaction that would have been valued at more than $1.7 billion. The confirmation of the rating takes into consideration Moody's expectation that Crane will remain acquisitive and factors in the uncertainties that a potential acquisition could represent in terms of size, financing, strategic fit, and proforma key credit metrics. Although, all these uncertainties create some overhang, Moody's remains confident that Crane's management team is committed to an investment grade credit rating (with or without a transaction).
CIRCOR International, Inc. today issued the following statement in response to the expiration of Crane Co.’s unsolicited tender offer:
(Bloomberg) -- About two-thirds of Circor International Inc. shares were elected to be tendered to Crane Co. before the $48 a share offer expired late Friday, people familiar with the matter said, the latest twist in Crane’s hostile pursuit of its rival industrial company.Even though a majority of Circor shareholders tendered their shares, the offer failed because it didn’t meet certain conditions, the people said Saturday. One of the conditions included Circor entering into a merger agreement with Crane. The shares will be returned to Circor investors.The latest development may add pressure on Circor’s board to engage with its rival on a deal.The news came after Gamco Investors Inc., the largest investor in Circor with 14.4%, said it would tender its shares to Crane on Friday. Gamco, the investment company led by Mario Gabelli, is also a shareholder in Crane.Crane is planning to announce the tender results as early as Monday, said the people, who asked not to be identified because the matter is confidential.Crane declined to comment on the tender results and Circor couldn’t immediately be reached.Earlier this month, Crane raised an initial offer by about 6.7% to $48 a share, valuing Circor at $955 million. Circor rejected that bid, saying it “substantially undervalues the company and is low-value, highly conditional and opportunistic.”Even if Circor shareholders are supportive of a deal, the likelihood of one is uncertain given Crane has said it wouldn’t raise its bid beyond $48 a share, and that offer has now lapsed.Stamford, Connecticut-based Crane is seeking to buy Circor to create a larger and more diversified industrial-products company. Burlington, Massachusetts-based Circor has revenue exceeding $1 billion, and specializes in valves and fluid-control systems. Crane also makes valves but has a broader portfolio, with its reach extending into vending machines and airplane brakes. It generates three times more in sales than Circor.Crane’s largest customers by revenue include Boeing Co. and Airbus SE, while Circor’s include Lockheed Martin Corp. and Exxon Mobil Corp.To contact the reporter on this story: Liana Baker in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Daniel Hauck at email@example.com, Linus Chua, Virginia Van NattaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
United Technologies' (UTX) second-quarter earnings are likely to benefit from strong prospects of its aerospace and commercial businesses. However, rising costs pose a concern.
Carlisle's (CSL) strength in Construction Materials and Interconnect Technologies segments, as well as accretive buyouts will aid second-quarter 2019 results. High operating costs pose a concern.
GAMCO Investors, Inc. , announced today that certain of its affiliates are participating in Crane Co.’s revised tender offer to acquire all of the outstanding shares of CIRCOR International, Inc.’s common stock for $48.00 per share in cash.
Circor (CIR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
CIRCOR International, Inc. today announced that it plans to release its second-quarter 2019 financial results before the opening of the New York Stock Exchange on Thursday, August 1, 2019.
Honeywell's (HON) strength in commercial aerospace, automation and process solutions businesses as well as buoyancy in demand for the commercial fire and security products will aid Q2 results.
Milacron's (MCRN) latest agreement with Hillenbrand poised to bank on emerging trends across the plastic-value chain, with a broader global scale, product diversification and a solid global presence.
Shares of Circor International Inc. tumbled 14% in premarket trading Monday, after Crane Co. said it will end efforts to buy the engineered products maker unless Circor makes "substantive engagement" this week. Crane said it will not extend its tender offer for Circor shares, which is scheduled to expire at midnight Eastern on July 19. Crane had raised its buyout bid for Circor last week to $48 a share from $45 a share, and Circor rejected it, saying it "substantially undervalues" the company. Circor's stock has rallied 17.3% over the past three months through Friday, while Crane shares have slipped 4.8% and the Dow Jones Industrial Average has gained 3.6%.
Circor's shares were trading 8.4% lower at $41.62 Thursday after its board rejected Crane's sweetened $955 million hostile bid. Crane also produces vending machines, airplane brakes and other industrial products. Crane on Monday increased its offer for Circor, boosting its bid by nearly 7% to $48 a share cash.
Circor International Inc. said Thursday its board has unanimously decided to reject the latest buyout bid by Crane Co. , saying it "substantially undervalues the company and is low-value, highly conditional and opportunistic." Earlier this week, Crane had raised its cash buyout bid for Circor to $48 a share, which would imply a market capitalization of $955.2 million, from $45 a share. Circor's stock has more than doubled (up 113.2%) year to date, while Crane shares have advanced 12.9% and the S&P 500 has gained 19.4%.
CIRCOR International, Inc. (CIR) (“CIRCOR”) today announced that its Board of Directors (the “Board”), after careful consideration and with the advice of its independent financial and legal advisors, unanimously rejected the revised unsolicited tender offer from Crane Co. (CR) (“Crane”), as it substantially undervalues the company and is low-value, highly conditional and opportunistic. The CIRCOR Board unanimously recommends that CIRCOR shareholders not tender their shares into Crane’s revised offer.
Crane Co. said Monday it has raised its cash buyout bid for flow control technology company Circor International Inc. by 6.7% to $48 a share from $45 a share. The new bid is 4.2% above Friday's stock closing price of $46.07. Circor had rejected the previous buyout bid, calling it "highly unrealistic." Circor responded by saying it will "carefully review and evaluate" the revised bid. Circor's stock has more than doubled (up 116%) year to date through Friday, while Crane shares have rallied 17% and the S&P 500 has gained 19%.