2 Buy Rated Infrastructure Stocks Poised To Take Off

On April 29, CMCO priced a public offering of 3.75 million shares of its common stock at $48 per share, for $180 million in gross proceeds. The company intends to use the offering’s net proceeds to repay in part outstanding borrowings under its first term loan facility.

On April 7, CMCO completed its acquisition of Dorner Manufacturing Corporation, a privately held company providing conveyor automation solutions, for an all-cash purchase price of $485 million. Through this acquisition, CMCO hopes to advance its growth objectives and strategy with Dorner’s platform in the specialty conveying space.

For its fiscal year 2021 third quarter, ended December 31,  CMCO’s net sales increased 5.5% sequentially to $166.55 million. Its $71.95 million in net cash was generated from operating activities, which represented an improvement of 2.4% year-over-year. The company had cash and cash equivalents of $187.88 million at the end of the period, up 63.8%.

Analysts expect CMCO’s EPS to be $0.51 for the current quarter, ending June 30, 2021, which represents a 628.6%  improvement year-over-year. It surpassed the Street’s EPS estimates in each of the trailing four quarters. Also, the consensus revenue is estimated to be $805.79 million for its fiscal year 2022, representing a 25.5% rise year-over-year. CMCO’s EPS is expected to grow at a 20% rate per annum over the next five years. The stock has gained 93.1% over the past year to close yesterday’s trading session at $50.54.

CMCO’s POWR Ratings reflect this promising outlook. The stock has an overall B rating, which equates to Buy in our proprietary rating system.

The stock has a B grade for Value and Quality. Click here to see the additional ratings for CMCO (Growth, Stability, Momentum, and Sentiment).

CMCO is ranked #10 of 86 stocks in the A-rated Industrial – Machinery industry.

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