DA Davidson Lowers Earnings Estimates for Columbus McKinnon

Columbus McKinnon Corporation (NASDAQ:CMCO) – DA Davidson decreased their FY2027 earnings per share estimates for shares of Columbus McKinnon in a research note issued to investors on Monday, August 4th. DA Davidson analyst M. Summerville now expects that the industrial products company will earn $2.80 per share for the year, down from their prior estimate of $2.85. The consensus estimate for Columbus McKinnon’s current full-year earnings is $2.69 per share.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $235.92 million during the quarter, compared to analysts’ expectations of $230.88 million. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%.

Columbus McKinnon Stock Performance

NASDAQ CMCO opened at $14.27 on Tuesday. The stock has a market capitalization of $409.98 million, a price-to-earnings ratio of -26.43 and a beta of 1.29. Columbus McKinnon has a twelve month low of $11.78 and a twelve month high of $41.05. The company has a current ratio of 1.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average of $15.37 and a 200 day moving average of $18.37.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Friday, August 8th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. Columbus McKinnon’s dividend payout ratio is presently -51.85%.

Hedge Funds Weigh In On Columbus McKinnon

Large investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. raised its holdings in Columbus McKinnon by 37.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company’s stock worth $16,513,000 after purchasing an additional 266,020 shares during the period. Invesco Ltd. raised its holdings in shares of Columbus McKinnon by 207.9% during the fourth quarter. Invesco Ltd. now owns 455,210 shares of the industrial products company’s stock valued at $16,952,000 after acquiring an additional 307,355 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Columbus McKinnon by 3,033.1% during the first quarter. GAMMA Investing LLC now owns 3,979 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 3,852 shares during the last quarter. Legato Capital Management LLC raised its holdings in shares of Columbus McKinnon by 38.7% during the first quarter. Legato Capital Management LLC now owns 75,322 shares of the industrial products company’s stock valued at $1,275,000 after acquiring an additional 21,028 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Columbus McKinnon during the fourth quarter valued at approximately $14,799,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.