Columbus McKinnon Corp. (NASDAQ:CMCO) declared a quarterly dividend on Tuesday, October 23rd, Wall Street Journal reports. Stockholders of record on Friday, November 9th will be given a dividend of 0.05 per share by the industrial products company on Monday, November 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, November 8th.
Columbus McKinnon has increased its dividend payment by an average of 10.1% annually over the last three years. Columbus McKinnon has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Columbus McKinnon to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.4%.
CMCO opened at $38.47 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.85 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $877.57 million, a PE ratio of 19.14 and a beta of 1.75. Columbus McKinnon has a 1 year low of $29.70 and a 1 year high of $45.85.
Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The firm 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 13.88% and a net margin of 2.49%. Columbus McKinnon’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. Sell-side analysts forecast that Columbus McKinnon will post 2.64 earnings per share for the current fiscal year.
Several research firms recently commented on CMCO. BidaskClub upgraded Columbus McKinnon from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, October 30th. Finally, Craig Hallum set a $54.00 price objective on Columbus McKinnon and gave the stock a “buy” rating in a report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.00.
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Columbus McKinnon Company Profile
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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