Seaport Global Securities Comments on Columbus McKinnon Corp.’s FY2018 Earnings (CMCO)

Columbus McKinnon Corp. (NASDAQ:CMCO) – Equities researchers at Seaport Global Securities increased their FY2018 earnings per share estimates for shares of Columbus McKinnon in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Shlisky now expects that the industrial products company will post earnings of $2.01 per share for the year, up from their previous forecast of $1.99. Seaport Global Securities has a “Buy” rating and a $50.00 price target on the stock. Seaport Global Securities also issued estimates for Columbus McKinnon’s Q4 2018 earnings at $0.50 EPS, Q2 2019 earnings at $0.69 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.62 EPS and FY2019 earnings at $2.52 EPS.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.31 by $0.13. Columbus McKinnon had a return on equity of 12.03% and a net margin of 1.10%. The business had revenue of $208.73 million during the quarter, compared to analyst estimates of $201.08 million. During the same period last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis.

CMCO has been the subject of several other reports. Roth Capital raised their price target on Columbus McKinnon from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. BidaskClub lowered Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Friday, January 19th. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday, November 2nd. ValuEngine upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, TheStreet cut Columbus McKinnon from a “b” rating to a “c+” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Columbus McKinnon has an average rating of “Hold” and an average price target of $47.33.

Columbus McKinnon (CMCO) traded down $0.62 on Thursday, hitting $35.79. The stock had a trading volume of 94,059 shares, compared to its average volume of 177,135. Columbus McKinnon has a 1-year low of $23.13 and a 1-year high of $44.55. The stock has a market capitalization of $876.20, a price-to-earnings ratio of 98.24 and a beta of 1.78. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.18 and a current ratio of 1.96.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Thursday, February 8th. Columbus McKinnon’s payout ratio is currently 43.24%.

In other news, VP Alan S. Korman sold 1,558 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $40.10, for a total value of $62,475.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark R. Paradowski sold 3,906 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total value of $156,083.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,225 shares of company stock worth $247,918. Insiders own 3.91% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CMCO. Schwab Charles Investment Management Inc. raised its stake in shares of Columbus McKinnon by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 123,828 shares of the industrial products company’s stock valued at $3,148,000 after acquiring an additional 2,900 shares in the last quarter. Alliancebernstein L.P. raised its stake in Columbus McKinnon by 48.3% in the second quarter. Alliancebernstein L.P. now owns 12,900 shares of the industrial products company’s stock valued at $328,000 after buying an additional 4,200 shares in the last quarter. Teachers Advisors LLC raised its stake in Columbus McKinnon by 2.9% in the second quarter. Teachers Advisors LLC now owns 35,886 shares of the industrial products company’s stock valued at $912,000 after buying an additional 1,009 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Columbus McKinnon by 171.7% in the second quarter. Ameriprise Financial Inc. now owns 67,738 shares of the industrial products company’s stock valued at $1,722,000 after buying an additional 42,803 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Columbus McKinnon by 16.0% in the second quarter. New York State Common Retirement Fund now owns 22,500 shares of the industrial products company’s stock valued at $572,000 after buying an additional 3,099 shares in the last quarter. Institutional investors and hedge funds own 84.93% of the company’s stock.

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About Columbus McKinnon

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.

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

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