Columbus McKinnon Corporation (NASDAQ:CMCO) – Analysts at Seaport Global Securities dropped their Q3 2018 EPS estimates for shares of Columbus McKinnon Corporation in a research report issued on Tuesday. Seaport Global Securities analyst M. Shlisky now forecasts that the industrial products company will earn $0.33 per share for the quarter, down from their prior estimate of $0.37. Seaport Global Securities also issued estimates for Columbus McKinnon Corporation’s FY2018 earnings at $1.99 EPS and FY2019 earnings at $2.51 EPS.

CMCO has been the subject of a number of other research reports. BidaskClub downgraded Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. ValuEngine raised Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised 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, TheStreet raised Columbus McKinnon Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $35.75.

ILLEGAL ACTIVITY WARNING: “Columbus McKinnon Corporation (CMCO) Forecasted to Earn Q3 2018 Earnings of $0.33 Per Share” was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/11/02/columbus-mckinnon-corporation-cmco-forecasted-to-earn-q3-2018-earnings-of-0-33-per-share.html. Columbus McKinnon Corporation (NASDAQ:CMCO) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. The firm had revenue of $212.80 million during the quarter, compared to analysts’ expectations of $203.27 million. Columbus McKinnon Corporation had a return on equity of 11.40% and a net margin of 2.65%. The firm’s revenue was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share.

Several hedge funds and other institutional investors have recently made changes to their positions in CMCO. Wells Fargo & Company MN lifted its holdings in shares of Columbus McKinnon Corporation by 87.0% in the 1st quarter. Wells Fargo & Company MN now owns 28,723 shares of the industrial products company’s stock worth $712,000 after purchasing an additional 13,367 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Columbus McKinnon Corporation by 11.8% in the 1st quarter. Bank of New York Mellon Corp now owns 221,644 shares of the industrial products company’s stock worth $5,501,000 after purchasing an additional 23,379 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Columbus McKinnon Corporation by 65.7% in the 1st quarter. Prudential Financial Inc. now owns 100,182 shares of the industrial products company’s stock worth $2,487,000 after purchasing an additional 39,720 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Columbus McKinnon Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 795 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Columbus McKinnon Corporation in the 1st quarter worth approximately $6,443,000. 86.97% of the stock is currently owned by institutional investors and hedge funds.

In other Columbus McKinnon Corporation news, VP Alan S. Korman sold 2,500 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $32.93, for a total transaction of $82,325.00. Following the transaction, the vice president now owns 13,121 shares of the company’s stock, valued at approximately $432,074.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy T. Tevens sold 45,172 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $32.76, for a total value of $1,479,834.72. Following the transaction, the director now directly owns 293,536 shares in the company, valued at approximately $9,616,239.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,263 shares of company stock worth $5,078,731. 3.91% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Thursday, November 9th. Columbus McKinnon Corporation’s dividend payout ratio is presently 18.82%.

Columbus McKinnon Corporation Company Profile

Earnings History and Estimates for Columbus McKinnon Corporation (NASDAQ:CMCO)

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