Manhattan Associates (NASDAQ:MANH) announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45, Briefing.com reports. The business had revenue of $144.09 million for the quarter, compared to the consensus estimate of $144.86 million. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Manhattan Associates updated its FY17 guidance to $1.48-1.52 EPS.
Manhattan Associates (NASDAQ:MANH) traded down $0.40 during trading hours on Wednesday, reaching $41.41. 567,900 shares of the company’s stock were exchanged, compared to its average volume of 825,657. The stock has a market capitalization of $2,841.84, a P/E ratio of 24.98 and a beta of 1.08. Manhattan Associates has a 12 month low of $39.63 and a 12 month high of $54.21.
Manhattan Associates declared that its board has authorized a share buyback program on Tuesday, February 6th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several brokerages recently issued reports on MANH. BidaskClub downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Zacks Investment Research downgraded shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.
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About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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