Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) – Research analysts at DA Davidson issued their Q1 2023 earnings per share estimates for Columbus McKinnon in a research report issued on Thursday, May 26th. DA Davidson analyst M. Summerville expects that the industrial products company will post earnings of $0.62 per share for the quarter. DA Davidson also issued estimates for Columbus McKinnon’s FY2023 earnings at $3.15 EPS. Columbus McKinnon (NASDAQ:CMCO – Get Rating) last announced its quarterly earnings results on Wednesday, May 25th. The industrial products company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Columbus McKinnon had a net margin of 3.27% and a return on equity of 10.19%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $235.33 million. During the same quarter in the prior year, the business posted $0.50 EPS. Columbus McKinnon’s quarterly revenue was up 36.1% on a year-over-year basis.
A number of other research analysts also recently weighed in on CMCO. Craig Hallum downgraded Columbus McKinnon from a “buy” rating to a “hold” rating and cut their price objective for the company from $60.00 to $35.00 in a research note on Wednesday. JPMorgan Chase & Co. cut shares of Columbus McKinnon from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $37.00 in a research note on Thursday. Zacks Investment Research lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Monday, January 31st. StockNews.com started coverage on shares of Columbus McKinnon in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Barrington Research lowered their price target on Columbus McKinnon from $66.00 to $57.00 and set an “outperform” rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.20.
NASDAQ CMCO opened at $30.45 on Friday. Columbus McKinnon has a fifty-two week low of $30.13 and a fifty-two week high of $54.20. The stock’s 50-day moving average is $37.85 and its two-hundred day moving average is $43.28. The firm has a market cap of $868.07 million, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 0.38 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.91 and a quick ratio of 1.15.
Institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. acquired a new position in shares of Columbus McKinnon in the 4th quarter valued at $56,000. Advisor Group Holdings Inc. raised its position in Columbus McKinnon by 184.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,670 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 1,083 shares in the last quarter. Citigroup Inc. boosted its holdings in Columbus McKinnon by 95.7% during the third quarter. Citigroup Inc. now owns 3,707 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 1,813 shares in the last quarter. PEAK6 Investments LLC bought a new stake in shares of Columbus McKinnon in the 3rd quarter valued at approximately $206,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Columbus McKinnon in the 3rd quarter worth approximately $217,000. 97.70% of the stock is owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, May 6th were issued a dividend of $0.07 per share. This is an increase from Columbus McKinnon’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $0.28 annualized dividend and a dividend yield of 0.92%. Columbus McKinnon’s payout ratio is presently 28.28%.
About Columbus McKinnon (Get Rating)
Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected hoists, custom engineered hoists, and winches; crane systems, such as crane components, crane kits, enclosed track rail systems, mobile and workstation cranes, jib cranes, lift assists, and fall protection systems; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, clamps, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.
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