CIRCOR International Beats Estimates, Hits 52-Week High (CIR)

Shares of CIRCOR International, Inc. CIR are currently up 11.1% at $39.07 per share during Thursday afternoon trading. Today's trading range for shares of CIRCOR International, Inc has been between $34.97 and a 52-week high of $39.09 per share. The consensus price target of analysts covering the company's stock is $41 per share. Volume of 133,000 shares is already more than double the daily average volume of 62,000 shares. CIRCOR International, Inc. (CIR) released financial results early Thursday morning that beat Wall Street estimates. CIRCOR International, Inc reported 3rd quarter adjusted earnings of 70 cents per share, on revenue of $177.6 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 56 cents per share, on revenue of $174.64 million. Chairman and chief executive officer Bill Higgins said, “Our third-quarter financial results demonstrate continuing improvements on the top and bottom line. Revenues came in at the high end of our guidance, while earnings, exclusive of Leslie bankruptcy and asbestos charges, surpassed our expectations. Revenue growth was primarily driven by continued strength at the short cycle Energy business and earlier-cycle Flow Technologies end markets. Earnings benefited from segment performance, currency impacts and a reduced tax rate.” Read more from Benzinga's Company news.