Columbus McKinnon (NASDAQ:CMCO) announced its quarterly earnings data on Thursday. The industrial products company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05, Fidelity Earnings reports. The firm had revenue of $207.60 million during the quarter, compared to analysts’ expectations of $206.68 million. Columbus McKinnon had a net margin of 6.19% and a return on equity of 15.44%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share.
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Shares of CMCO stock traded down $1.36 during trading on Friday, reaching $39.39. The company’s stock had a trading volume of 196,700 shares, compared to its average volume of 117,975. The stock’s 50-day moving average price is $36.76 and its 200 day moving average price is $37.28. Columbus McKinnon has a 1-year low of $27.66 and a 1-year high of $43.09. The company has a market capitalization of $921.23 million, a price-to-earnings ratio of 14.38 and a beta of 1.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.75 and a quick ratio of 1.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Thursday, November 7th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 8.76%.
A number of research analysts recently weighed in on CMCO shares. Dougherty & Co started coverage on shares of Columbus McKinnon in a report on Tuesday, August 27th. They issued a “buy” rating and a $40.00 price objective for the company. Zacks Investment Research cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. ValuEngine upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub upgraded shares of Columbus McKinnon from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 22nd. Finally, Sidoti dropped their price objective on shares of Columbus McKinnon from $57.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.80.
In other news, VP Benjamin Auyeung sold 6,853 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $34.37, for a total transaction of $235,537.61. Following the transaction, the vice president now directly owns 10,531 shares of the company’s stock, valued at approximately $361,950.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.39% of the stock is currently owned by corporate insiders.
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.