Wall Street brokerages expect Columbus McKinnon Corp. (NASDAQ:CMCO) to announce $218.75 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Columbus McKinnon’s earnings, with the highest sales estimate coming in at $219.40 million and the lowest estimate coming in at $218.10 million. Columbus McKinnon posted sales of $212.83 million in the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report on Tuesday, October 30th.
On average, analysts expect that Columbus McKinnon will report full year sales of $878.70 million for the current financial year, with estimates ranging from $876.30 million to $881.10 million. For the next financial year, analysts expect that the business will report sales of $907.35 million per share, with estimates ranging from $902.60 million to $912.10 million. Zacks’ sales averages are an average based on a survey of analysts that cover Columbus McKinnon.
Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.14. Columbus McKinnon had a return on equity of 13.04% and a net margin of 2.10%. The company had revenue of $224.99 million for the quarter, compared to the consensus estimate of $219.22 million. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year.
Shares of CMCO traded up $0.07 during midday trading on Friday, reaching $42.05. The stock had a trading volume of 51,500 shares, compared to its average volume of 149,206. Columbus McKinnon has a 52 week low of $31.84 and a 52 week high of $45.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.04 and a current ratio of 1.84. The company has a market capitalization of $976.97 million, a PE ratio of 21.03 and a beta of 1.86.
The business also recently announced a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Friday, August 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Thursday, August 9th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 9.95%.
In other news, VP Gregory P. Rustowicz sold 3,271 shares of the business’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $42.13, for a total transaction of $137,807.23. Following the sale, the vice president now directly owns 45,366 shares of the company’s stock, valued at $1,911,269.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.27% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Columbus McKinnon during the first quarter valued at $109,000. Eqis Capital Management Inc. acquired a new position in Columbus McKinnon during the second quarter valued at $204,000. WealthTrust Axiom LLC acquired a new position in Columbus McKinnon during the second quarter valued at $216,000. Dynamic Technology Lab Private Ltd acquired a new position in Columbus McKinnon during the second quarter valued at $225,000. Finally, Global X Management Co. LLC raised its position in Columbus McKinnon by 139.9% during the first quarter. Global X Management Co. LLC now owns 6,800 shares of the industrial products company’s stock valued at $244,000 after buying an additional 3,965 shares during the period. 96.33% of the stock is currently owned by institutional investors.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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