Columbus McKinnon Corporation (CMCO) to Distribute Quarterly Dividend of $0.07 on August 17th

Columbus McKinnon Corporation (NASDAQ:CMCO) declared a quarterly dividend on Monday, July 20th. Investors of record on Friday, August 7th will be paid a dividend of 0.07 per share by the industrial products company on Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, August 7th.

Columbus McKinnon has raised its dividend by an average of 0.0%annually over the last three years. Columbus McKinnon has a dividend payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Columbus McKinnon to earn $2.48 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 11.3%.

Columbus McKinnon Trading Up 7.3%

NASDAQ CMCO opened at $21.59 on Wednesday. The firm has a 50 day simple moving average of $14.88 and a 200-day simple moving average of $16.38. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. Columbus McKinnon has a one year low of $11.99 and a one year high of $24.40. The firm has a market cap of $623.09 million, a price-to-earnings ratio of -2.89 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The firm had revenue of $531.46 million for the quarter, compared to the consensus estimate of $501.27 million. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Equities research analysts anticipate that Columbus McKinnon will post 2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMCO. JPMorgan Chase & Co. increased their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings downgraded Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday. Zacks Research cut shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, DA Davidson lowered their price objective on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.00.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.