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Chicago Bridge & Iron (CBI) in Focus: Stock Tumbles 10.3%

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Chicago Bridge & Iron Company N.V. saw a big move last session, as the company’s shares fell over 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for CBI, as the stock is down over 18% in the past one-month time frame.
The share price was impacted by reports that Chicago Bridge & Iron will delay the construction of a new nuclear power plant for Southern Co. at Plant Vogtle by 18 months.
Also, this slump shouldn’t be too much of a surprise to investors, as the Construction company has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
CBI currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
A better-ranked stock in the Building and Heavy Construction industry is Dycom Industries Inc. (DY - Free Report) which holds a Zacks Rank #1 (Strong Buy).
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