Equities analysts expect that Columbus McKinnon Co. (NASDAQ:CMCO) will report $178.70 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Columbus McKinnon’s earnings, with estimates ranging from $177.50 million to $179.90 million. Columbus McKinnon posted sales of $189.49 million during the same quarter last year, which suggests a negative year over year growth rate of 5.7%. The business is scheduled to issue its next earnings results on Wednesday, May 26th.
According to Zacks, analysts expect that Columbus McKinnon will report full-year sales of $642.06 million for the current fiscal year, with estimates ranging from $640.91 million to $643.20 million. For the next financial year, analysts expect that the firm will report sales of $744.80 million, with estimates ranging from $739.60 million to $750.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Columbus McKinnon.
Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Wednesday, January 27th. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The business had revenue of $166.55 million for the quarter, compared to analyst estimates of $157.30 million. Columbus McKinnon had a net margin of 2.54% and a return on equity of 8.20%.
Several brokerages recently issued reports on CMCO. Colliers Securities increased their target price on shares of Columbus McKinnon from $42.00 to $49.00 in a research note on Thursday, January 21st. Barrington Research upped their price objective on shares of Columbus McKinnon from $56.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, March 2nd. Zacks Investment Research upgraded shares of Columbus McKinnon from a “strong sell” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Tuesday, January 5th. DA Davidson upgraded shares of Columbus McKinnon from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $39.00 to $60.00 in a report on Friday, February 26th. Finally, TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a report on Tuesday, February 16th. Five analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $50.83.
Several hedge funds have recently made changes to their positions in CMCO. FMR LLC raised its holdings in shares of Columbus McKinnon by 35.8% in the first quarter. FMR LLC now owns 636,200 shares of the industrial products company’s stock valued at $21,853,000 after purchasing an additional 167,700 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Columbus McKinnon by 1.8% in the third quarter. California Public Employees Retirement System now owns 52,323 shares of the industrial products company’s stock valued at $1,732,000 after purchasing an additional 912 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Columbus McKinnon by 4.9% in the third quarter. Aperio Group LLC now owns 7,152 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 337 shares during the last quarter. Swiss National Bank raised its holdings in shares of Columbus McKinnon by 1.9% in the third quarter. Swiss National Bank now owns 53,911 shares of the industrial products company’s stock valued at $1,784,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Columbus McKinnon by 21.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 125,123 shares of the industrial products company’s stock valued at $4,142,000 after purchasing an additional 22,358 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.
NASDAQ CMCO traded down $0.07 on Friday, hitting $51.88. 1,090 shares of the company were exchanged, compared to its average volume of 105,071. The company has a market cap of $1.24 billion, a PE ratio of 71.16, a PEG ratio of 3.71 and a beta of 1.51. Columbus McKinnon has a 12 month low of $21.52 and a 12 month high of $57.06. The stock has a fifty day moving average of $51.70 and a 200-day moving average of $42.23. The company has a current ratio of 2.63, a quick ratio of 1.91 and a debt-to-equity ratio of 0.51.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 13th. Stockholders of record on Monday, May 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. Columbus McKinnon’s dividend payout ratio is currently 8.63%.
About Columbus McKinnon
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, rigging tools, digital power control systems, motion control products, and other technologies and systems 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.
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