Analysts expect that Columbus McKinnon Corp. (NASDAQ:CMCO) will report earnings of $0.60 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Columbus McKinnon’s earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.62. Columbus McKinnon posted earnings per share of $0.55 in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is scheduled to report its next earnings results before the market opens on Tuesday, July 31st.
On average, analysts expect that Columbus McKinnon will report full year earnings of $2.48 per share for the current year, with EPS estimates ranging from $2.38 to $2.57. For the next fiscal year, analysts expect that the firm will post earnings of $2.97 per share, with EPS estimates ranging from $2.96 to $2.97. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Columbus McKinnon.
Get Columbus McKinnon alerts:Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Wednesday, May 30th. The industrial products company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Columbus McKinnon had a net margin of 2.63% and a return on equity of 12.14%. The business had revenue of $214.10 million during the quarter, compared to the consensus estimate of $210.64 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 16.5% on a year-over-year basis.
CMCO has been the subject of a number of research analyst reports. TheStreet raised shares of Columbus McKinnon from a “c+” rating to a “b” rating in a research report on Wednesday, May 30th. Zacks Investment Research raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Friday, June 1st. Craig Hallum initiated coverage on shares of Columbus McKinnon in a research report on Monday, May 14th. They issued a “buy” rating and a $49.00 target price for the company. Finally, BidaskClub raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Saturday, May 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $48.75.
In other news, VP Gregory P. Rustowicz sold 3,271 shares of the business’s stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $42.13, for a total transaction of $137,807.23. Following the completion of the sale, the vice president now owns 45,366 shares of the company’s stock, valued at approximately $1,911,269.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.27% of the company’s stock.
Several hedge funds have recently modified their holdings of CMCO. Cortina Asset Management LLC bought a new stake in shares of Columbus McKinnon during the 1st quarter valued at $16,615,000. Westwood Holdings Group Inc. grew its position in shares of Columbus McKinnon by 131.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 420,502 shares of the industrial products company’s stock valued at $15,071,000 after acquiring an additional 238,647 shares during the period. Royal Bank of Canada grew its position in shares of Columbus McKinnon by 6.5% during the 1st quarter. Royal Bank of Canada now owns 2,959,031 shares of the industrial products company’s stock valued at $106,052,000 after acquiring an additional 180,859 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Columbus McKinnon by 40.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 558,568 shares of the industrial products company’s stock valued at $20,019,000 after acquiring an additional 162,016 shares during the period. Finally, Phocas Financial Corp. bought a new stake in shares of Columbus McKinnon during the 4th quarter valued at $5,710,000. 91.99% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:CMCO opened at $41.81 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.74 and a debt-to-equity ratio of 0.74. Columbus McKinnon has a 12 month low of $24.97 and a 12 month high of $45.85. The company has a market capitalization of $960.44 million, a price-to-earnings ratio of 20.65 and a beta of 1.88.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products 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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