Columbus McKinnon Corp. (CMCO) Expected to Announce Earnings of $0.50 Per Share

Equities analysts expect that Columbus McKinnon Corp. (NASDAQ:CMCO) will report earnings of $0.50 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Columbus McKinnon’s earnings, with estimates ranging from $0.49 to $0.50. Columbus McKinnon reported earnings per share of $0.40 during the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The business is scheduled to announce its next earnings results on Wednesday, May 30th.

According to Zacks, analysts expect that Columbus McKinnon will report full year earnings of $2.00 per share for the current year, with EPS estimates ranging from $1.98 to $2.01. For the next fiscal year, analysts forecast that the company will report earnings of $2.49 per share, with EPS estimates ranging from $2.46 to $2.52. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Columbus McKinnon.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.13. The business had revenue of $208.73 million for the quarter, compared to analyst estimates of $201.08 million. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. Columbus McKinnon’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS.

CMCO has been the topic of several recent analyst reports. ValuEngine raised Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Roth Capital lifted their price objective on Columbus McKinnon from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, January 15th. Seaport Global Securities reiterated a “buy” rating and issued a $50.00 price objective on shares of Columbus McKinnon in a research report on Wednesday, January 10th. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Thursday, November 2nd. Finally, TheStreet downgraded Columbus McKinnon from a “b” rating to a “c+” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.33.

Shares of Columbus McKinnon (CMCO) traded down $0.52 during mid-day trading on Tuesday, reaching $35.07. The company had a trading volume of 221,700 shares, compared to its average volume of 189,180. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. The firm has a market cap of $819.34, a price-to-earnings ratio of 94.78 and a beta of 1.78. Columbus McKinnon has a twelve month low of $23.13 and a twelve month high of $44.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.16 annualized dividend and a yield of 0.46%. Columbus McKinnon’s payout ratio is 43.24%.

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

Several hedge funds have recently added to or reduced their stakes in the company. Globeflex Capital L P bought a new stake in shares of Columbus McKinnon during the fourth quarter worth $149,000. Allianz Asset Management GmbH raised its position in shares of Columbus McKinnon by 1,050.9% during the fourth quarter. Allianz Asset Management GmbH now owns 219,848 shares of the industrial products company’s stock worth $8,790,000 after acquiring an additional 200,746 shares during the last quarter. Citadel Advisors LLC raised its position in shares of Columbus McKinnon by 94.5% during the fourth quarter. Citadel Advisors LLC now owns 34,327 shares of the industrial products company’s stock worth $1,372,000 after acquiring an additional 16,679 shares during the last quarter. American International Group Inc. raised its position in shares of Columbus McKinnon by 14.1% during the fourth quarter. American International Group Inc. now owns 14,840 shares of the industrial products company’s stock worth $593,000 after acquiring an additional 1,836 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new stake in shares of Columbus McKinnon during the fourth quarter worth $1,239,000. Institutional investors own 84.63% of the company’s stock.

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

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