Chicago Bridge & Iron: 1Q Margins Best Since 2016, but Stock Falls 8% on Surprise Bid for McDermott
We expect to reduce our $23 fair value estimate for no-moat engineering and construction, or E&C, firm Chicago Bridge and Iron, or CB&I, following clean, strong first-quarter results and incrementally unfavorable developments regarding its planned merger with energy-focused E&C McDermott, including a competing bid for McDermott and costlier-than-expected debt refinancing.CB&I has agreed to merge with McDermott, with a key shareholder vote set for May 2 and closing expected by ...
Chicago Bridge & Iron Company has four operating groups: Engineering & Construction, which provides engineering, procurement and construction (EPC) services for energy infrastructure facilities; Fabrication Services, which provides fabrication and erection of steel plate structures, fabrication of piping systems and process modules, manufacturing and distribution of pipe and fittings, and engineered products; Technology, which provides licensed process technologies and catalysts; and Capital Services, which provides maintenance services, environmental engineering and remediation, infrastructure EPC services, program management, and disaster response and recovery.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.