Columbus McKinnon Corporation (NASDAQ:CMCO) Announces Quarterly Dividend of $0.07

Key Points

• Columbus McKinnon announced a quarterly dividend of $0.07 per share, payable on August 17 to shareholders of record as of August 7. The dividend implies an annualized yield of about 2.0%.
• The company’s dividend appears well covered, with a 9.5% payout ratio and an expected future payout ratio of 11.3% based on analyst earnings estimates.
• Recent operating results were mixed: Columbus McKinnon beat revenue expectations at $437.83 million but missed EPS estimates, and analysts now have an overall Hold rating with a consensus price target of $22.00.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) announced a quarterly dividend on Monday, July 20th. Investors of record on Friday, August 7th will be given a dividend of 0.07 per share by the industrial products company on Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 7th.

Columbus McKinnon has increased its dividend payment by an average of 0.0%per year over the last three years. Columbus McKinnon has a payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NASDAQ CMCO opened at $14.33 on Tuesday. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.98. The company has a market cap of $413.13 million, a P/E ratio of -2.61 and a beta of 1.39. The stock has a 50-day moving average of $14.30 and a two-hundred day moving average of $16.49. Columbus McKinnon has a 1-year low of $11.99 and a 1-year high of $24.40.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.12). Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.The business had revenue of $437.83 million for the quarter, compared to analyst estimates of $419.56 million. During the same quarter last year, the company earned $0.60 earnings per share. Columbus McKinnon's quarterly revenue was up 77.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. As a group, analysts anticipate that Columbus McKinnon will post 1.73 EPS for the current year.

Analyst Ratings Changes

CMCO has been the topic of several analyst reports. Wall Street Zen cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Weiss Ratings downgraded Columbus McKinnon from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 29th. DA Davidson cut their price target on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, June 15th. Finally, Zacks Research lowered Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Columbus McKinnon presently has an average rating of "Hold" and a consensus target price of $22.00.

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.

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