Equities analysts forecast that Manhattan Associates (NASDAQ:MANH) will announce $129.75 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Manhattan Associates’ earnings. The lowest sales estimate is $128.80 million and the highest is $131.40 million. Manhattan Associates reported sales of $143.49 million in the same quarter last year, which suggests a negative year over year growth rate of 9.6%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, April 24th.
According to Zacks, analysts expect that Manhattan Associates will report full year sales of $549.83 million for the current fiscal year, with estimates ranging from $547.00 million to $551.35 million. For the next fiscal year, analysts forecast that the firm 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 analysts that cover Manhattan Associates.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The firm had revenue of $144.09 million during the quarter, compared to the consensus estimate of $144.86 million. Manhattan Associates had a return on equity of 72.02% and a net margin of 19.59%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS.
A number of research analysts recently commented on the company. BidaskClub downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. ValuEngine downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. TheStreet downgraded Manhattan Associates from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Finally, Zacks Investment Research downgraded Manhattan Associates from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Manhattan Associates presently has an average rating of “Hold” and an average price target of $55.00.
In other news, Director John J. Huntz, Jr. sold 3,592 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.52, for a total value of $163,507.84. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, VP Bruce Richards sold 5,600 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $45.07, for a total value of $252,392.00. Following the completion of the transaction, the vice president now directly owns 28,560 shares of the company’s stock, valued at approximately $1,287,199.20. The disclosure for this sale can be found here. Corporate insiders own 0.99% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MANH. Ameriprise Financial Inc. grew its stake in shares of Manhattan Associates by 1.5% in the third quarter. Ameriprise Financial Inc. now owns 250,102 shares of the software maker’s stock worth $10,395,000 after purchasing an additional 3,639 shares in the last quarter. Legal & General Group Plc boosted its stake in Manhattan Associates by 13.9% during the third quarter. Legal & General Group Plc now owns 63,058 shares of the software maker’s stock valued at $2,621,000 after buying an additional 7,713 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Manhattan Associates by 8.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 362,661 shares of the software maker’s stock valued at $15,076,000 after buying an additional 28,041 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Manhattan Associates by 6.7% during the third quarter. Dimensional Fund Advisors LP now owns 792,513 shares of the software maker’s stock valued at $32,946,000 after buying an additional 49,494 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Manhattan Associates by 41.0% during the third quarter. Stifel Financial Corp now owns 52,857 shares of the software maker’s stock valued at $2,197,000 after buying an additional 15,370 shares in the last quarter.
Shares of MANH opened at $42.22 on Tuesday. The firm has a market cap of $2,771.00, a P/E ratio of 24.55 and a beta of 1.23. Manhattan Associates has a 12 month low of $39.10 and a 12 month high of $54.21.
Manhattan Associates declared that its board has initiated a stock buyback program on Tuesday, February 6th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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About Manhattan Associates
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.
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