Columbus McKinnon (NASDAQ:CMCO) released its earnings results on Tuesday. The industrial products company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08, MarketWatch Earnings reports. The company had revenue of $217.14 million during the quarter, compared to analyst estimates of $218.91 million. Columbus McKinnon had a return on equity of 14.08% and a net margin of 2.49%. Columbus McKinnon’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. Columbus McKinnon updated its Q3 2019 guidance to EPS.
Shares of CMCO stock traded down $0.18 during midday trading on Thursday, reaching $36.73. 3,395 shares of the stock were exchanged, compared to its average volume of 143,967. Columbus McKinnon has a 1 year low of $29.70 and a 1 year high of $45.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.04 and a current ratio of 1.84. The company has a market capitalization of $818.25 million, a price-to-earnings ratio of 18.24 and a beta of 1.85.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. Columbus McKinnon’s dividend payout ratio (DPR) is 9.95%.
A number of research firms have commented on CMCO. BidaskClub raised Columbus McKinnon from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised Columbus McKinnon from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Thursday, August 2nd. ValuEngine lowered Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Finally, Craig Hallum set a $54.00 price target on Columbus McKinnon and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Columbus McKinnon presently has an average rating of “Buy” and an average price target of $47.00.
About Columbus McKinnon
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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