Posted by admin on Jun 7th, 2022
Wall Street brokerages expect Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) to post earnings per share of $0.60 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Columbus McKinnon’s earnings, with estimates ranging from $0.56 to $0.62. Columbus McKinnon posted earnings per share of $0.69 in the same quarter last year, which indicates a negative year over year growth rate of 13%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Columbus McKinnon will report full year earnings of $2.99 per share for the current financial year, with EPS estimates ranging from $2.78 to $3.15. For the next financial year, analysts forecast that the business will report earnings of $3.58 per share, with EPS estimates ranging from $3.05 to $4.05. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Columbus McKinnon.
Columbus McKinnon (NASDAQ:CMCO – Get Rating) last announced its earnings results on Wednesday, May 25th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. Columbus McKinnon had a return on equity of 10.78% and a net margin of 3.27%. The business 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 business earned $0.50 earnings per share. The company’s revenue for the quarter was up 36.1% compared to the same quarter last year.
Several research firms have recently weighed in on CMCO. StockNews.com began coverage on shares of Columbus McKinnon in a research note on Thursday, March 31st. They set a “hold” rating for the company. Barrington Research decreased their price target on shares of Columbus McKinnon from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Craig Hallum downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating and decreased their price target for the company from $60.00 to $35.00 in a research note on Wednesday, May 25th. TheStreet downgraded shares of Columbus McKinnon from a “b” rating to a “c+” rating in a research note on Friday, April 1st. Finally, JPMorgan Chase & Co. downgraded shares of Columbus McKinnon from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $37.00 in a research note on Thursday, May 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.20.
Shares of Columbus McKinnon stock traded up $0.04 on Tuesday, hitting $34.32. 158,583 shares of the company traded hands, compared to its average volume of 127,675. The stock’s 50 day moving average price is $36.40 and its 200-day moving average price is $42.33. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. Columbus McKinnon has a 52 week low of $30.13 and a 52 week high of $54.20. The company has a market cap of $979.87 million, a PE ratio of 33.98, a PEG ratio of 0.43 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, May 6th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, May 5th. This is an increase from Columbus McKinnon’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.82%. Columbus McKinnon’s dividend payout ratio is presently 27.72%.
Several hedge funds have recently modified their holdings of CMCO. BNP Paribas Arbitrage SA grew its holdings in shares of Columbus McKinnon by 56.5% during the fourth quarter. BNP Paribas Arbitrage SA now owns 18,721 shares of the industrial products company’s stock valued at $866,000 after buying an additional 6,757 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of Columbus McKinnon by 125.6% during the fourth quarter. GW&K Investment Management LLC now owns 899,518 shares of the industrial products company’s stock valued at $41,611,000 after buying an additional 500,868 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Columbus McKinnon during the fourth quarter valued at $661,000. Eagle Asset Management Inc. grew its holdings in shares of Columbus McKinnon by 109.6% during the fourth quarter. Eagle Asset Management Inc. now owns 61,559 shares of the industrial products company’s stock valued at $2,839,000 after buying an additional 32,186 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Columbus McKinnon by 112.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,361 shares of the industrial products company’s stock valued at $248,000 after buying an additional 2,843 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.
Columbus McKinnon Company Profile (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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