$235.14 Million in Sales Expected for Columbus McKinnon Co. (NASDAQ:CMCO) This Quarter

Brokerages expect Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) to post $235.14 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Columbus McKinnon’s earnings, with estimates ranging from $235.00 million to $235.41 million. Columbus McKinnon posted sales of $186.24 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.3%. The firm is expected to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Columbus McKinnon will report full-year sales of $888.26 million for the current year, with estimates ranging from $888.00 million to $888.60 million. For the next fiscal year, analysts forecast that the firm will report sales of $980.16 million, with estimates ranging from $977.91 million to $984.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Columbus McKinnon.

A number of research firms recently issued reports on CMCO. TheStreet lowered Columbus McKinnon from a “b” rating to a “c+” rating in a research note on Friday, April 1st. StockNews.com began coverage on Columbus McKinnon in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Monday, January 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $64.67.

Institutional investors have recently modified their holdings of the business. Pinebridge Investments L.P. purchased a new position in shares of Columbus McKinnon during the 4th quarter worth $56,000. Advisor Group Holdings Inc. lifted its stake in shares of Columbus McKinnon by 184.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,670 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 1,083 shares during the period. Citigroup Inc. lifted its stake in shares of Columbus McKinnon by 95.7% during the 3rd quarter. Citigroup Inc. now owns 3,707 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 1,813 shares during the period. PEAK6 Investments LLC purchased a new position in shares of Columbus McKinnon during the 3rd quarter worth $206,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Columbus McKinnon during the 3rd quarter worth $217,000. 97.70% of the stock is currently owned by institutional investors.

Shares of CMCO traded down $0.12 on Thursday, reaching $32.91. The stock had a trading volume of 210,138 shares, compared to its average volume of 118,615. The firm has a market capitalization of $938.20 million, a PE ratio of 33.36, a PEG ratio of 0.38 and a beta of 1.17. The company has a quick ratio of 1.15, a current ratio of 1.91 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $38.58 and a 200 day moving average of $43.59. Columbus McKinnon has a twelve month low of $31.77 and a twelve month high of $54.20.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Friday, May 6th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Thursday, May 5th. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.06. Columbus McKinnon’s dividend payout ratio is currently 28.28%.

About Columbus McKinnon (Get Rating)

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected hoists, custom engineered hoists, and winches; crane systems, such as crane components, crane kits, enclosed track rail systems, mobile and workstation cranes, jib cranes, lift assists, and fall protection systems; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, clamps, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.

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