Manhattan Associates, Inc. (MANH) Expected to Post Quarterly Sales of $150.38 Million
Wall Street brokerages expect Manhattan Associates, Inc. (NASDAQ:MANH) to report $150.38 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Manhattan Associates’ earnings. The lowest sales estimate is $149.10 million and the highest is $151.64 million. Manhattan Associates reported sales of $152.21 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.2%. The business is scheduled to report its next earnings results on Tuesday, October 17th.
According to Zacks, analysts expect that Manhattan Associates will report full-year sales of $150.38 million for the current year, with estimates ranging from $591.80 million to $595.70 million. For the next year, analysts forecast that the firm will post sales of $619.54 million per share, with estimates ranging from $610.68 million to $628.77 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Manhattan Associates.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. Manhattan Associates’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share.
A number of research firms recently weighed in on MANH. Benchmark Co. lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Friday, April 21st. BidaskClub raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Zacks Investment Research lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, SunTrust Banks, Inc. began coverage on shares of Manhattan Associates in a report on Monday, June 26th. They issued a “hold” rating and a $45.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Manhattan Associates currently has a consensus rating of “Hold” and a consensus price target of $59.50.
Manhattan Associates (MANH) opened at 43.37 on Thursday. Manhattan Associates has a 52 week low of $42.50 and a 52 week high of $62.14. The stock has a market cap of $2.99 billion, a PE ratio of 25.05 and a beta of 1.15. The company’s 50-day moving average is $46.02 and its 200 day moving average is $48.00.
Manhattan Associates declared that its board has authorized a share repurchase plan on Thursday, April 20th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the software maker to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC raised its position in Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock worth $113,000 after buying an additional 377 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in Manhattan Associates by 41.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock worth $120,000 after buying an additional 726 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Manhattan Associates by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock worth $123,000 after buying an additional 271 shares during the period. Lloyds Banking Group plc acquired a new position in Manhattan Associates during the first quarter worth $126,000. Finally, TrimTabs Asset Management LLC raised its position in Manhattan Associates by 105.3% in the second quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock worth $181,000 after buying an additional 1,929 shares during the period.
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Manhattan Associates Company Profile
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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