Columbus McKinnon Corporation (CMCO) Expected to Announce Quarterly Sales of $203.20 Million
Wall Street analysts expect Columbus McKinnon Corporation (NASDAQ:CMCO) to post $203.20 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Columbus McKinnon Corporation’s earnings. The highest sales estimate is $204.10 million and the lowest is $202.30 million. Columbus McKinnon Corporation reported sales of $151.93 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.7%. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that Columbus McKinnon Corporation will report full year sales of $203.20 million for the current financial year, with estimates ranging from $814.10 million to $815.00 million. For the next financial year, analysts anticipate that the firm will post sales of $845.30 million per share, with estimates ranging from $839.40 million to $851.20 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Columbus McKinnon Corporation.
Columbus McKinnon Corporation (NASDAQ:CMCO) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.23. The company had revenue of $203.70 million during the quarter, compared to analysts’ expectations of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. Columbus McKinnon Corporation’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS.
A number of brokerages recently issued reports on CMCO. ValuEngine lowered Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. TheStreet upgraded Columbus McKinnon Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Columbus McKinnon Corporation from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a report on Thursday, August 3rd. Roth Capital set a $36.00 price target on Columbus McKinnon Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, BidaskClub lowered Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.50.
In related news, CEO Timothy T. Tevens sold 8,770 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $32.15, for a total value of $281,955.50. Following the completion of the sale, the chief executive officer now owns 293,536 shares in the company, valued at $9,437,182.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alan S. Korman sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $32.93, for a total value of $82,325.00. Following the completion of the sale, the vice president now owns 13,121 shares of the company’s stock, valued at approximately $432,074.53. The disclosure for this sale can be found here. Insiders sold 167,932 shares of company stock valued at $5,416,512 in the last quarter. 3.91% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its holdings in Columbus McKinnon Corporation by 1.5% during the first quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock worth $151,000 after buying an additional 91 shares during the period. Laurion Capital Management LP purchased a new stake in Columbus McKinnon Corporation during the second quarter worth $202,000. American International Group Inc. lifted its holdings in Columbus McKinnon Corporation by 7.1% during the first quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after buying an additional 795 shares during the period. Voya Investment Management LLC lifted its holdings in Columbus McKinnon Corporation by 10.8% during the second quarter. Voya Investment Management LLC now owns 12,389 shares of the industrial products company’s stock worth $315,000 after buying an additional 1,208 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Columbus McKinnon Corporation by 48.3% during the second quarter. Alliancebernstein L.P. now owns 12,900 shares of the industrial products company’s stock worth $328,000 after buying an additional 4,200 shares during the period. Institutional investors own 86.37% of the company’s stock.
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Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) opened at 37.51 on Friday. Columbus McKinnon Corporation has a 12-month low of $16.86 and a 12-month high of $38.64. The stock has a market cap of $848.66 million, a PE ratio of 56.83 and a beta of 1.90. The firm has a 50-day moving average price of $34.88 and a 200 day moving average price of $28.72.
Columbus McKinnon Corporation Company Profile
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