Zacks: Brokerages Anticipate Columbus McKinnon Corporation (CMCO) to Post $0.45 EPS

Brokerages expect that Columbus McKinnon Corporation (NASDAQ:CMCO) will report $0.45 earnings per share for the current quarter, Zacks reports. Two analysts have provided estimates for Columbus McKinnon Corporation’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.46. Columbus McKinnon Corporation reported earnings per share of $0.36 during the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, October 31st.

On average, analysts expect that Columbus McKinnon Corporation will report full-year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.90 to $1.96. For the next fiscal year, analysts forecast that the company will report earnings of $2.34 per share, with EPS estimates ranging from $2.33 to $2.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Columbus McKinnon Corporation.

Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.23. The firm had revenue of $203.70 million during the quarter, compared to analyst estimates of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The company’s revenue was up 36.7% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share.

CMCO has been the subject of a number of recent research reports. ValuEngine raised Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Roth Capital began coverage on Columbus McKinnon Corporation in a report on Friday, July 28th. They issued a “buy” rating and a $33.00 target price for the company. Zacks Investment Research cut Columbus McKinnon Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, TheStreet raised Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Columbus McKinnon Corporation presently has an average rating of “Hold” and an average price target of $34.50.

TRADEMARK VIOLATION NOTICE: This report was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/11/zacks-brokerages-anticipate-columbus-mckinnon-corporation-cmco-to-post-0-45-eps.html.

In other news, CEO Timothy T. Tevens sold 8,770 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $32.15, for a total value of $281,955.50. Following the completion of the sale, the chief executive officer now owns 293,536 shares of the company’s stock, valued at $9,437,182.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alan S. Korman sold 2,500 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $32.93, for a total value of $82,325.00. Following the completion of the sale, the vice president now directly owns 13,121 shares of the company’s stock, valued at approximately $432,074.53. The disclosure for this sale can be found here. In the last three months, insiders sold 167,932 shares of company stock valued at $5,416,512. Insiders own 3.91% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Columbus McKinnon Corporation by 4.7% in the second quarter. Royal Bank of Canada now owns 2,608,542 shares of the industrial products company’s stock valued at $66,309,000 after buying an additional 118,139 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Columbus McKinnon Corporation by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,373,168 shares of the industrial products company’s stock valued at $34,906,000 after buying an additional 108,359 shares during the period. Macquarie Group Ltd. increased its stake in shares of Columbus McKinnon Corporation by 0.6% in the second quarter. Macquarie Group Ltd. now owns 850,186 shares of the industrial products company’s stock valued at $21,612,000 after buying an additional 4,726 shares during the period. Vanguard Group Inc. increased its stake in shares of Columbus McKinnon Corporation by 5.3% in the second quarter. Vanguard Group Inc. now owns 820,712 shares of the industrial products company’s stock valued at $20,863,000 after buying an additional 41,410 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Columbus McKinnon Corporation by 8.7% in the second quarter. Northern Trust Corp now owns 495,033 shares of the industrial products company’s stock valued at $12,585,000 after buying an additional 39,578 shares during the period. 86.37% of the stock is owned by institutional investors.

Shares of Columbus McKinnon Corporation (NASDAQ CMCO) opened at 37.98 on Wednesday. The firm has a market capitalization of $859.30 million, a price-to-earnings ratio of 57.55 and a beta of 1.90. Columbus McKinnon Corporation has a 12 month low of $16.86 and a 12 month high of $38.64. The company has a 50-day moving average price of $34.50 and a 200-day moving average price of $28.59.

Columbus McKinnon Corporation Company Profile

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On average, analysts expect that Columbus McKinnon Corporation will report full-year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.90 to $1.96. For the next fiscal year, analysts forecast that the company will report earnings of $2.34 per share, with EPS estimates ranging from $2.33 to $2.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Columbus McKinnon Corporation.

Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.23. The firm had revenue of $203.70 million during the quarter, compared to analyst estimates of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The company’s revenue was up 36.7% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share.

CMCO has been the subject of a number of recent research reports. ValuEngine raised Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Roth Capital began coverage on Columbus McKinnon Corporation in a report on Friday, July 28th. They issued a “buy” rating and a $33.00 target price for the company. Zacks Investment Research cut Columbus McKinnon Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, TheStreet raised Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Columbus McKinnon Corporation presently has an average rating of “Hold” and an average price target of $34.50.

TRADEMARK VIOLATION NOTICE: This report was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/11/zacks-brokerages-anticipate-columbus-mckinnon-corporation-cmco-to-post-0-45-eps.html.

In other news, CEO Timothy T. Tevens sold 8,770 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $32.15, for a total value of $281,955.50. Following the completion of the sale, the chief executive officer now owns 293,536 shares of the company’s stock, valued at $9,437,182.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alan S. Korman sold 2,500 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $32.93, for a total value of $82,325.00. Following the completion of the sale, the vice president now directly owns 13,121 shares of the company’s stock, valued at approximately $432,074.53. The disclosure for this sale can be found here. In the last three months, insiders sold 167,932 shares of company stock valued at $5,416,512. Insiders own 3.91% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Columbus McKinnon Corporation by 4.7% in the second quarter. Royal Bank of Canada now owns 2,608,542 shares of the industrial products company’s stock valued at $66,309,000 after buying an additional 118,139 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Columbus McKinnon Corporation by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,373,168 shares of the industrial products company’s stock valued at $34,906,000 after buying an additional 108,359 shares during the period. Macquarie Group Ltd. increased its stake in shares of Columbus McKinnon Corporation by 0.6% in the second quarter. Macquarie Group Ltd. now owns 850,186 shares of the industrial products company’s stock valued at $21,612,000 after buying an additional 4,726 shares during the period. Vanguard Group Inc. increased its stake in shares of Columbus McKinnon Corporation by 5.3% in the second quarter. Vanguard Group Inc. now owns 820,712 shares of the industrial products company’s stock valued at $20,863,000 after buying an additional 41,410 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Columbus McKinnon Corporation by 8.7% in the second quarter. Northern Trust Corp now owns 495,033 shares of the industrial products company’s stock valued at $12,585,000 after buying an additional 39,578 shares during the period. 86.37% of the stock is owned by institutional investors.

Shares of Columbus McKinnon Corporation (NASDAQ CMCO) opened at 37.98 on Wednesday. The firm has a market capitalization of $859.30 million, a price-to-earnings ratio of 57.55 and a beta of 1.90. Columbus McKinnon Corporation has a 12 month low of $16.86 and a 12 month high of $38.64. The company has a 50-day moving average price of $34.50 and a 200-day moving average price of $28.59.

Columbus McKinnon Corporation Company Profile

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Earnings History and Estimates for Columbus McKinnon Corporation (NASDAQ:CMCO)

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