CMCO to post inline results for 3Q10
Analysts at CL King maintain their "accumulate" rating on Columbus McKinnon Corporation (NASDAQ: CMCO). The target price for CMCO is set to $18.
Columbus McKinnon is scheduled to report its 3Q10 earnings on January 18. “We expect CMCO to report adjusted EPS, excluding restructuring charges, of $0.11, compared to $0.37 in 3Q09,” CL King says. “We view Q3 as a lower-expectation type of quarter, as it is a seasonally weak quarter for Columbus McKinnon given the impact of the holiday season and associated plant shutdowns and that its business is economically-mid cycle in nature, or later to recover,” the analysts add.
“We have a positive view of Columbus McKinnon’s’ prospects. Its end markets appear to be stabilizing, given recently reported monthly sales trends from customer Fastenal (NASDAQ: FAST) and Grainger (NYSE: GWW),” CL King mentions.
