$203.20 Million in Sales Expected for Columbus McKinnon Corporation (CMCO) This Quarter

Wall Street brokerages forecast that Columbus McKinnon Corporation (NASDAQ:CMCO) will post sales of $203.20 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Columbus McKinnon Corporation’s earnings. The highest sales estimate is $204.10 million and the lowest is $202.30 million. Columbus McKinnon Corporation posted sales of $151.93 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.7%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, October 31st.

According to Zacks, analysts expect that Columbus McKinnon Corporation will report full year sales of $203.20 million for the current financial year, with estimates ranging from $814.10 million to $815.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $845.30 million per share, with estimates ranging from $839.40 million to $851.20 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Columbus McKinnon Corporation.

Columbus McKinnon Corporation (NASDAQ:CMCO) last posted its earnings results on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.32 by $0.23. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The company had revenue of $203.70 million for the quarter, compared to the consensus estimate of $190.62 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis.

Several brokerages have recently issued reports on CMCO. TheStreet upgraded shares of Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. ValuEngine lowered shares of Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Columbus McKinnon Corporation from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research note on Thursday, August 3rd. Roth Capital set a $36.00 price target on shares of Columbus McKinnon Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $34.50.

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In related news, VP Alan S. Korman sold 4,253 shares of Columbus McKinnon Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $32.17, for a total value of $136,819.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gene P. Buer sold 10,669 shares of Columbus McKinnon Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $31.66, for a total transaction of $337,780.54. The disclosure for this sale can be found here. Insiders sold a total of 167,932 shares of company stock valued at $5,416,512 over the last quarter. 3.91% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new position in Columbus McKinnon Corporation in the 1st quarter valued at approximately $6,443,000. Victory Capital Management Inc. grew its position in shares of Columbus McKinnon Corporation by 11.6% during the 2nd quarter. Victory Capital Management Inc. now owns 56,455 shares of the industrial products company’s stock valued at $1,435,000 after purchasing an additional 5,848 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Columbus McKinnon Corporation by 23.6% during the 2nd quarter. Systematic Financial Management LP now owns 225,155 shares of the industrial products company’s stock valued at $5,723,000 after purchasing an additional 43,035 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Columbus McKinnon Corporation by 13.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,264,809 shares of the industrial products company’s stock valued at $31,393,000 after purchasing an additional 152,165 shares in the last quarter. Finally, American International Group Inc. grew its position in shares of Columbus McKinnon Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 795 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

Columbus McKinnon Corporation (NASDAQ CMCO) traded up 0.16% during trading on Friday, hitting $37.67. The stock had a trading volume of 67,975 shares. Columbus McKinnon Corporation has a 1-year low of $16.86 and a 1-year high of $38.64. The firm has a market capitalization of $852.28 million, a PE ratio of 57.08 and a beta of 1.90. The firm has a 50 day moving average price of $35.14 and a 200-day moving average price of $28.87.

Columbus McKinnon Corporation Company Profile

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