Columbus McKinnon (NASDAQ:CMCO) issued its earnings results on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.08, MarketWatch Earnings reports. Columbus McKinnon had a return on equity of 13.88% and a net margin of 2.49%. The firm had revenue of $217.14 million for the quarter, compared to analyst estimates of $218.91 million. During the same period last year, the company earned $0.51 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Columbus McKinnon updated its Q3 2019 guidance to EPS.
CMCO stock traded up $0.14 during trading hours on Thursday, hitting $34.10. 66,100 shares of the stock traded hands, compared to its average volume of 143,517. The company has a quick ratio of 1.05, a current ratio of 1.85 and a debt-to-equity ratio of 0.66. Columbus McKinnon has a one year low of $29.70 and a one year high of $45.85. The stock has a market capitalization of $792.83 million, a P/E ratio of 16.97 and a beta of 1.75.
The company also recently announced a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Friday, November 9th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.20 annualized dividend and a yield of 0.59%. Columbus McKinnon’s dividend payout ratio is currently 9.95%.
Several equities research analysts have weighed in on CMCO shares. Zacks Investment Research raised Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, October 30th. Craig Hallum set a $54.00 price target on Columbus McKinnon and gave the company a “buy” rating in a report on Tuesday, October 30th. ValuEngine raised Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Finally, BidaskClub raised Columbus McKinnon from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price 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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