Zacks: Brokerages Anticipate Columbus McKinnon Corporation (CMCO) Will Post Quarterly Sales of $200.60 Million

Wall Street brokerages predict that Columbus McKinnon Corporation (NASDAQ:CMCO) will report $200.60 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Columbus McKinnon’s earnings. Columbus McKinnon reported sales of $152.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.5%. The company is scheduled to report its next earnings results before the market opens on Tuesday, February 6th.

On average, analysts expect that Columbus McKinnon will report full-year sales of $200.60 million for the current fiscal year, with estimates ranging from $826.70 million to $828.70 million. For the next financial year, analysts expect that the company will report sales of $859.00 million per share, with estimates ranging from $851.50 million to $866.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Columbus McKinnon.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Columbus McKinnon had a net margin of 2.65% and a return on equity of 10.95%. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate of $203.27 million. During the same quarter in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis.

Several brokerages recently weighed in on CMCO. BidaskClub downgraded shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Roth Capital boosted their target price on shares of Columbus McKinnon from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 15th. Seaport Global Securities reissued a “buy” rating and issued a $50.00 target price on shares of Columbus McKinnon in a research note on Wednesday, January 10th. Zacks Investment Research downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.33.

In other news, VP Alan S. Korman sold 1,558 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $40.10, for a total transaction of $62,475.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark R. Paradowski sold 3,906 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total transaction of $156,083.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,754 shares of company stock valued at $1,408,020. Corporate insiders own 3.91% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CMCO. Howe & Rusling Inc. acquired a new position in shares of Columbus McKinnon during the 4th quarter valued at about $114,000. SG Americas Securities LLC acquired a new position in shares of Columbus McKinnon during the 3rd quarter valued at about $141,000. Laurion Capital Management LP acquired a new position in shares of Columbus McKinnon during the 2nd quarter valued at about $202,000. Cubist Systematic Strategies LLC acquired a new position in shares of Columbus McKinnon during the 3rd quarter valued at about $202,000. Finally, Trexquant Investment LP acquired a new position in shares of Columbus McKinnon during the 3rd quarter valued at about $212,000. 85.10% of the stock is owned by institutional investors.

Columbus McKinnon (NASDAQ:CMCO) opened at $42.05 on Monday. Columbus McKinnon has a one year low of $22.88 and a one year high of $44.55. The firm has a market cap of $976.05, a PE ratio of 49.47 and a beta of 1.91. The company has a quick ratio of 1.18, a current ratio of 1.96 and a debt-to-equity ratio of 0.89.

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Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.

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