Wall Street brokerages predict that Manhattan Associates, Inc. (NASDAQ:MANH) will announce $129.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Manhattan Associates’ earnings, with the lowest sales estimate coming in at $128.80 million and the highest estimate coming in at $131.40 million. Manhattan Associates posted sales of $143.49 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.6%. The company is expected to announce its next quarterly earnings results on Thursday, April 19th.
On average, analysts expect that Manhattan Associates will report full year sales of $129.75 million for the current fiscal year, with estimates ranging from $547.00 million to $551.35 million. For the next financial year, analysts forecast that the business will report sales of $539.86 million per share, with estimates ranging from $530.30 million to $549.27 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Manhattan Associates.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $144.09 million for the quarter, compared to analysts’ expectations of $144.86 million. Manhattan Associates had a net margin of 19.59% and a return on equity of 72.02%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Zacks Investment Research cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. TheStreet cut shares of Manhattan Associates from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. Finally, ValuEngine cut shares of Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $55.00.
In other Manhattan Associates news, Director John J. Huntz, Jr. sold 3,592 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $45.52, for a total value of $163,507.84. Following the transaction, the director now owns 70,799 shares of the company’s stock, valued at $3,222,770.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce Richards sold 5,600 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $45.07, for a total transaction of $252,392.00. Following the completion of the transaction, the vice president now directly owns 28,560 shares in the company, valued at approximately $1,287,199.20. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MANH. Disciplined Growth Investors Inc. MN acquired a new position in Manhattan Associates in the third quarter valued at about $38,456,000. Carillon Tower Advisers Inc. acquired a new position in Manhattan Associates in the fourth quarter valued at about $38,930,000. Brown Capital Management LLC lifted its position in Manhattan Associates by 10.4% in the fourth quarter. Brown Capital Management LLC now owns 7,845,670 shares of the software maker’s stock valued at $388,674,000 after buying an additional 737,820 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Manhattan Associates by 32.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,482,575 shares of the software maker’s stock valued at $103,201,000 after buying an additional 614,105 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Manhattan Associates by 756.0% in the third quarter. Russell Investments Group Ltd. now owns 575,442 shares of the software maker’s stock valued at $23,921,000 after buying an additional 508,215 shares during the last quarter.
Shares of Manhattan Associates (NASDAQ MANH) traded up $0.34 during mid-day trading on Tuesday, hitting $44.37. 122,351 shares of the stock traded hands, compared to its average volume of 747,816. The firm has a market cap of $3,019.92, a PE ratio of 25.39 and a beta of 1.26. Manhattan Associates has a 1 year low of $39.63 and a 1 year high of $54.21.
Manhattan Associates declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 6th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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Manhattan Associates Company Profile
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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