Wall Street analysts expect Columbus McKinnon Corp. (NASDAQ:CMCO) to announce earnings of $0.58 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Columbus McKinnon’s earnings. The lowest EPS estimate is $0.55 and the highest is $0.61. Columbus McKinnon reported earnings per share of $0.51 during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.7%. The company is expected to issue its next earnings results on Wednesday, May 29th.
According to Zacks, analysts expect that Columbus McKinnon will report full-year earnings of $2.64 per share for the current financial year, with EPS estimates ranging from $2.61 to $2.66. For the next financial year, analysts expect that the company will post earnings of $3.05 per share, with EPS estimates ranging from $2.86 to $3.24. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Columbus McKinnon.
Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Thursday, January 31st. The industrial products company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Columbus McKinnon had a net margin of 3.58% and a return on equity of 14.55%. The business had revenue of $217.42 million for the quarter, compared to analyst estimates of $215.05 million.
CMCO has been the topic of a number of recent research reports. Roth Capital set a $44.00 price target on shares of Columbus McKinnon and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Zacks Investment Research lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Seaport Global Securities began coverage on shares of Columbus McKinnon in a report on Wednesday, January 23rd. They issued a “buy” rating and a $42.00 target price on the stock. BidaskClub raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Finally, ValuEngine lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $44.50.
NASDAQ:CMCO traded down $0.17 during mid-day trading on Friday, reaching $34.08. 954 shares of the company’s stock were exchanged, compared to its average volume of 99,554. Columbus McKinnon has a one year low of $27.66 and a one year high of $45.85. The firm has a market cap of $799.97 million, a price-to-earnings ratio of 17.15 and a beta of 1.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.78.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.70%. Columbus McKinnon’s payout ratio is 9.95%.
In related news, VP Alan S. Korman sold 5,168 shares of Columbus McKinnon stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $37.90, for a total transaction of $195,867.20. Following the sale, the vice president now directly owns 15,711 shares of the company’s stock, valued at approximately $595,446.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.27% of the company’s stock.
Several institutional investors have recently made changes to their positions in CMCO. Acadian Asset Management LLC grew its holdings in shares of Columbus McKinnon by 219.6% during the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,298 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Columbus McKinnon by 14.5% during the 4th quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 541 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Columbus McKinnon by 15.4% during the 4th quarter. Citigroup Inc. now owns 7,189 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 957 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Columbus McKinnon by 369.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,307 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 5,752 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Columbus McKinnon during the 3rd quarter valued at approximately $222,000. 97.54% of the stock is currently owned by institutional investors.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
Further Reading: Understanding Options Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Columbus McKinnon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon and related companies with MarketBeat.com's FREE daily email newsletter.