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Chicago Bridge & Iron (CBI) Surges: Stock Moves 39% Higher

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Chicago Bridge & Iron Company N.V. was a big mover last session, as the company saw its shares rise over 39% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now up 6.3% in the past one-month time frame.

The move came after the Delaware Supreme Court ruling in favor of Chicago Bridge & Iron stating that the company does not owe $2 billion to Westinghouse Electric Co. on its final purchase price.

The company has seen four negative estimate revisions in the past two months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past two months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Chicago Bridge & Iron currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.

Chicago Bridge & Iron Company N.V. Price and Consensus

A better-ranked stock in the same sector is Sterling Construction Company Inc (STRL - Free Report) , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is CBI going up? Or down? Predict to see what others think: Up or Down

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