Columbus McKinnon (NASDAQ:CMCO) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Columbus McKinnon (NASDAQ:CMCO) released its earnings results on Monday. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18), Zacks reports. Columbus McKinnon had a return on equity of 9.20% and a net margin of 1.51%.

Columbus McKinnon Stock Performance

Shares of Columbus McKinnon stock opened at $20.87 on Wednesday. The company has a 50 day moving average of $36.65 and a 200-day moving average of $35.18. Columbus McKinnon has a 1-year low of $19.61 and a 1-year high of $45.84. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The company has a market cap of $598.76 million, a PE ratio of 39.38 and a beta of 1.22.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.34%. Columbus McKinnon’s payout ratio is presently 52.83%.

Insider Activity at Columbus McKinnon

In related news, Director Christopher J. Stephens purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average cost of $37.34 per share, with a total value of $37,340.00. Following the completion of the purchase, the director now owns 6,014 shares in the company, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CMCO shares. DA Davidson lowered shares of Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Tuesday. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.