Manhattan Associates, Inc. (MANH) Expected to Post Quarterly Sales of $150.38 Million
Brokerages expect Manhattan Associates, Inc. (NASDAQ:MANH) to post sales of $150.38 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Manhattan Associates’ earnings. The lowest sales estimate is $149.10 million and the highest is $151.64 million. Manhattan Associates posted sales of $152.21 million in the same quarter last year, which suggests a negative year over year growth rate of 1.2%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 17th.
On average, analysts expect that Manhattan Associates will report full year sales of $150.38 million for the current fiscal year, with estimates ranging from $591.80 million to $595.70 million. For the next year, analysts anticipate that the company will report sales of $619.54 million per share, with estimates ranging from $610.68 million to $628.77 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Manhattan Associates.
Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. Manhattan Associates’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.49 earnings per share.
MANH has been the subject of several research reports. Zacks Investment Research raised Manhattan Associates from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Friday, May 26th. SunTrust Banks, Inc. initiated coverage on Manhattan Associates in a research note on Monday, June 26th. They set a “hold” rating and a $45.00 price target for the company. Finally, BidaskClub downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Manhattan Associates presently has an average rating of “Hold” and an average price target of $59.50.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in MANH. Brown Capital Management LLC increased its position in Manhattan Associates by 3.9% in the first quarter. Brown Capital Management LLC now owns 6,168,645 shares of the software maker’s stock valued at $321,078,000 after buying an additional 229,639 shares during the period. BlackRock Inc. increased its position in Manhattan Associates by 14,241.7% in the first quarter. BlackRock Inc. now owns 5,768,519 shares of the software maker’s stock valued at $300,250,000 after buying an additional 5,728,297 shares during the period. Karp Capital Management Corp purchased a new position in Manhattan Associates during the first quarter valued at about $960,000. Acrospire Investment Management LLC increased its position in Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock valued at $113,000 after buying an additional 377 shares during the period. Finally, Stifel Financial Corp increased its position in Manhattan Associates by 14.9% in the first quarter. Stifel Financial Corp now owns 164,900 shares of the software maker’s stock valued at $8,616,000 after buying an additional 21,426 shares during the period.
Manhattan Associates (NASDAQ:MANH) traded down 0.86% during trading on Tuesday, reaching $41.31. 79,726 shares of the company traded hands. The company has a market capitalization of $2.85 billion, a P/E ratio of 23.86 and a beta of 1.15. Manhattan Associates has a 52 week low of $40.83 and a 52 week high of $62.14. The firm has a 50-day moving average price of $44.20 and a 200-day moving average price of $47.29.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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