Analysts predict that Manhattan Associates, Inc. (NASDAQ:MANH) will report $140.33 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Manhattan Associates’ earnings, with the highest sales estimate coming in at $140.89 million and the lowest estimate coming in at $139.60 million. Manhattan Associates posted sales of $154.14 million during the same quarter last year, which would indicate a negative year over year growth rate of 9%. The business is expected to issue its next quarterly earnings results on Thursday, July 19th.
According to Zacks, analysts expect that Manhattan Associates will report full year sales of $550.24 million for the current year, with estimates ranging from $547.60 million to $551.79 million. For the next fiscal year, analysts anticipate that the business will post sales of $541.10 million per share, with estimates ranging from $530.90 million to $550.58 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Manhattan Associates.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, April 24th. The software maker reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.06. Manhattan Associates had a return on equity of 68.51% and a net margin of 19.07%. The business had revenue of $130.60 million during the quarter, compared to analyst estimates of $129.92 million. During the same period last year, the company earned $0.42 earnings per share. Manhattan Associates’s quarterly revenue was down 9.0% compared to the same quarter last year.
Several analysts recently issued reports on the company. ValuEngine lowered Manhattan Associates from a “hold” rating to a “sell” rating in a report on Saturday. BidaskClub upgraded Manhattan Associates from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Finally, TheStreet lowered Manhattan Associates from a “b-” rating to a “c+” rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Manhattan Associates currently has an average rating of “Hold” and an average price target of $55.00.
Shares of NASDAQ:MANH traded down $0.93 during midday trading on Monday, hitting $42.72. 471,937 shares of the stock were exchanged, compared to its average volume of 427,186. Manhattan Associates has a 52-week low of $39.10 and a 52-week high of $54.21. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 24.84 and a beta of 1.25.
Manhattan Associates declared that its board has approved a stock buyback program on Tuesday, February 6th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Manhattan Associates news, Director John J. Huntz, Jr. sold 3,592 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $45.52, for a total transaction of $163,507.84. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is available at this link. Also, CFO Dennis B. Story sold 16,280 shares of the stock in a transaction on Friday, May 4th. The stock was sold at an average price of $43.13, for a total transaction of $702,156.40. Following the transaction, the chief financial officer now directly owns 63,060 shares in the company, valued at $2,719,777.80. The disclosure for this sale can be found here. Insiders have sold 25,472 shares of company stock worth $1,118,056 over the last three months. Company insiders own 0.99% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB increased its position in Manhattan Associates by 40.9% during the first quarter. Xact Kapitalforvaltning AB now owns 9,988 shares of the software maker’s stock worth $418,000 after buying an additional 2,900 shares during the last quarter. Legal & General Group Plc increased its position in Manhattan Associates by 455.7% during the first quarter. Legal & General Group Plc now owns 375,838 shares of the software maker’s stock worth $15,740,000 after buying an additional 308,209 shares during the last quarter. Guggenheim Capital LLC increased its position in Manhattan Associates by 11.7% during the first quarter. Guggenheim Capital LLC now owns 20,833 shares of the software maker’s stock worth $872,000 after buying an additional 2,186 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Manhattan Associates by 54.1% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 13,908 shares of the software maker’s stock worth $582,000 after buying an additional 4,881 shares during the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in Manhattan Associates during the first quarter worth $1,052,000.
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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