Wall Street brokerages forecast that Columbus McKinnon Corp. (NASDAQ:CMCO) will announce $209.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Columbus McKinnon’s earnings. The highest sales estimate is $210.00 million and the lowest is $209.10 million. Columbus McKinnon reported sales of $183.69 million in the same quarter last year, which would suggest a positive year over year growth rate of 14.1%. The firm is scheduled to report its next earnings report on Wednesday, May 30th.
On average, analysts expect that Columbus McKinnon will report full year sales of $209.55 million for the current financial year, with estimates ranging from $834.40 million to $835.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $866.25 million per share, with estimates ranging from $856.70 million to $875.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Columbus McKinnon.
Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.13. Columbus McKinnon had a net margin of 1.10% and a return on equity of 11.87%. The firm had revenue of $208.73 million during the quarter, compared to analyst estimates of $201.08 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year.
CMCO has been the subject of several recent research reports. BidaskClub lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, February 21st. Roth Capital upped their price target on shares of Columbus McKinnon from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 15th. ValuEngine upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, TheStreet lowered shares of Columbus McKinnon from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $46.67.
Columbus McKinnon (NASDAQ:CMCO) traded up $0.22 during mid-day trading on Friday, reaching $36.86. 118,820 shares of the company’s stock traded hands, compared to its average volume of 191,756. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. Columbus McKinnon has a 12-month low of $23.13 and a 12-month high of $44.55. The company has a market capitalization of $813.35, a price-to-earnings ratio of 99.03 and a beta of 1.85.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.16 annualized dividend and a dividend yield of 0.43%. Columbus McKinnon’s dividend payout ratio is currently 43.24%.
In related news, VP Alan S. Korman sold 1,724 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $36.00, for a total value of $62,064.00. Following the completion of the sale, the vice president now owns 16,593 shares of the company’s stock, valued at $597,348. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.91% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Howe & Rusling Inc. acquired a new stake in Columbus McKinnon in the fourth quarter worth about $114,000. SG Americas Securities LLC acquired a new stake in Columbus McKinnon in the third quarter worth about $141,000. Globeflex Capital L P acquired a new stake in Columbus McKinnon in the fourth quarter worth about $149,000. Cubist Systematic Strategies LLC acquired a new stake in Columbus McKinnon in the third quarter worth about $202,000. Finally, Trexquant Investment LP acquired a new stake in Columbus McKinnon in the third quarter worth about $212,000. 85.50% of the stock is owned by institutional investors and hedge funds.
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About Columbus McKinnon
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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