Columbus McKinnon (CMCO) Set to Announce Quarterly Earnings on Thursday | MarketBeat

2022-07-23 05:09:11 By : Mr. Jimmy Xu

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Columbus McKinnon (NASDAQ:CMCO - Get Rating) is set to post its quarterly earnings results before the market opens on Thursday, July 28th. Analysts expect Columbus McKinnon to post earnings of $0.60 per share for the quarter. Columbus McKinnon has set its Q1 2023 guidance at EPS.Persons that are interested in registering for the company's earnings conference call can do so using this link.

Columbus McKinnon (NASDAQ:CMCO - Get Rating) last released its earnings results on Wednesday, May 25th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. Columbus McKinnon had a net margin of 3.27% and a return on equity of 10.78%. The firm had revenue of $253.40 million during the quarter, compared to analyst estimates of $235.33 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The firm's revenue for the quarter was up 36.1% compared to the same quarter last year. On average, analysts expect Columbus McKinnon to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year. Columbus McKinnon Trading Up 3.0 %

NASDAQ CMCO opened at $30.83 on Thursday. The firm has a market capitalization of $880.23 million, a PE ratio of 30.53, a price-to-earnings-growth ratio of 0.36 and a beta of 1.21. Columbus McKinnon has a one year low of $26.42 and a one year high of $54.20. The company has a 50-day simple moving average of $30.96 and a 200-day simple moving average of $38.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.87. Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, August 5th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.91%. Columbus McKinnon's payout ratio is currently 27.72%. Analysts Set New Price Targets

Several analysts recently issued reports on the company. Craig Hallum downgraded Columbus McKinnon from a "buy" rating to a "hold" rating and cut their price target for the stock from $60.00 to $35.00 in a report on Wednesday, May 25th. JPMorgan Chase & Co. cut shares of Columbus McKinnon from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $64.00 to $37.00 in a report on Thursday, May 26th. StockNews.com started coverage on shares of Columbus McKinnon in a research note on Thursday, March 31st. They set a "hold" rating for the company. DA Davidson reduced their price objective on Columbus McKinnon from $50.00 to $45.00 in a research report on Monday, June 27th. Finally, Barrington Research lowered their target price on Columbus McKinnon from $66.00 to $57.00 and set an "outperform" rating on the stock in a research report on Thursday, May 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Columbus McKinnon presently has a consensus rating of "Hold" and an average price target of $43.50.Insider Buying and Selling

In other Columbus McKinnon news, insider Kurt F. Wozniak sold 10,778 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $34.24, for a total transaction of $369,038.72. Following the completion of the transaction, the insider now directly owns 25,725 shares of the company's stock, valued at approximately $880,824. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.18% of the stock is owned by corporate insiders. Hedge Funds Weigh In On Columbus McKinnon

Hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. raised its holdings in Columbus McKinnon by 51.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,525 shares of the industrial products company's stock worth $107,000 after buying an additional 855 shares during the period. Neuberger Berman Group LLC purchased a new position in shares of Columbus McKinnon in the first quarter worth approximately $244,000. Engineers Gate Manager LP acquired a new stake in shares of Columbus McKinnon during the first quarter valued at approximately $262,000. Prudential Financial Inc. raised its stake in Columbus McKinnon by 28.0% during the 1st quarter. Prudential Financial Inc. now owns 6,204 shares of the industrial products company's stock valued at $263,000 after purchasing an additional 1,359 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Columbus McKinnon by 6.9% during the first quarter. Bank of Montreal Can now owns 5,815 shares of the industrial products company's stock valued at $263,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company's stock. 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 and custom engineered hoists, and winches; crane systems, such as crane components and kits, enclosed track rail systems, mobile and jib cranes, and fall protection systems, as well as material handling solutions; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.See AlsoGet a free copy of the StockNews.com research report on Columbus McKinnon (CMCO)Exxon Mobil Leads The Oil Sector: Have Both Peaked?Get These 3 Juicy Dividend Yields While They Last These 3 Mega Caps are Bear Market BuysHow Low Can DocuSign Stock Go?The Top-Rated Consumer Defensive Stocks With Yield Above 3.5% 

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