Wall Street analysts expect Columbus McKinnon Co. (NASDAQ:CMCO) to report earnings per share (EPS) of $0.55 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Columbus McKinnon’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.68. Columbus McKinnon reported earnings of $0.26 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 111.5%. The firm is expected to report its next earnings results on Thursday, January 27th.
On average, analysts expect that Columbus McKinnon will report full year earnings of $2.76 per share for the current financial year, with EPS estimates ranging from $2.66 to $2.90. For the next fiscal year, analysts forecast that the company will post earnings of $3.59 per share, with EPS estimates ranging from $3.45 to $3.76. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Columbus McKinnon.
Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Wednesday, October 27th. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. The firm had revenue of $223.60 million for the quarter, compared to analyst estimates of $228.41 million. Columbus McKinnon had a return on equity of 9.40% and a net margin of 3.05%. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share.
A number of brokerages recently weighed in on CMCO. TheStreet raised Columbus McKinnon from a “c+” rating to a “b+” rating in a research report on Thursday, October 28th. Zacks Investment Research raised Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Thursday, November 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Columbus McKinnon has a consensus rating of “Buy” and a consensus target price of $61.60.
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Shares of CMCO stock opened at $44.57 on Friday. Columbus McKinnon has a 1-year low of $37.34 and a 1-year high of $57.06. The stock’s 50-day moving average is $49.38 and its 200 day moving average is $47.61. The company has a market cap of $1.27 billion, a P/E ratio of 48.45, a PEG ratio of 0.93 and a beta of 1.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.72 and a quick ratio of 1.10.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Friday, November 5th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, November 4th. Columbus McKinnon’s dividend payout ratio is presently 26.09%.
In other Columbus McKinnon news, CFO Gregory P. Rustowicz sold 7,607 shares of the firm’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $53.04, for a total value of $403,475.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark R. Paradowski sold 7,537 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $53.20, for a total value of $400,968.40. The disclosure for this sale can be found here. In the last three months, insiders sold 31,534 shares of company stock valued at $1,656,888. Corporate insiders own 2.14% of the company’s stock.
Several large investors have recently made changes to their positions in CMCO. Ameritas Investment Partners Inc. raised its position in Columbus McKinnon by 12.4% during the second quarter. Ameritas Investment Partners Inc. now owns 2,183 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 240 shares in the last quarter. Citigroup Inc. raised its position in Columbus McKinnon by 95.7% during the third quarter. Citigroup Inc. now owns 3,707 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 1,813 shares in the last quarter. Legal & General Group Plc raised its position in Columbus McKinnon by 17.0% during the second quarter. Legal & General Group Plc now owns 3,728 shares of the industrial products company’s stock valued at $181,000 after acquiring an additional 543 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Columbus McKinnon during the second quarter valued at approximately $193,000. Finally, PEAK6 Investments LLC purchased a new position in Columbus McKinnon during the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 96.43% of the company’s stock.
About Columbus McKinnon
Columbus McKinnon Corp. engages in the designing, manufacturing, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.
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