Brokers Issue Forecasts for Columbus McKinnon Co.’s Q1 2023 Earnings (NASDAQ:CMCO)
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Columbus McKinnon, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Columbus McKinnon wasn’t on the list.
While Columbus McKinnon currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.