Manhattan Associates Inc. (MANH) Updates FY16 Earnings Guidance
Manhattan Associates Inc. (NASDAQ:MANH) updated its FY16 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.82-1.84 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.79. The company issued revenue guidance of $603-609 million, compared to the consensus revenue estimate of $615.98 million.
Several research analysts have commented on the stock. Zacks Investment Research cut shares of Manhattan Associates from a buy rating to a hold rating in a report on Wednesday, June 22nd. Raymond James Financial Inc. reiterated an outperform rating and set a $74.00 price target (down previously from $75.00) on shares of Manhattan Associates in a report on Friday, July 15th. Finally, Brean Capital reiterated a buy rating and set a $75.00 price target on shares of Manhattan Associates in a report on Wednesday, July 20th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $72.17.
Shares of Manhattan Associates Inc. (NASDAQ:MANH) traded up 1.908% on Tuesday, hitting $59.005. 1,208,175 shares of the stock traded hands. The firm has a market cap of $4.23 billion, a P/E ratio of 37.345 and a beta of 1.31. The firm’s 50-day moving average is $58.55 and its 200 day moving average is $60.94. Manhattan Associates Inc. has a 12-month low of $44.14 and a 12-month high of $77.75.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 18th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. The business had revenue of $152.21 million for the quarter, compared to analysts’ expectations of $156.15 million. During the same period last year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts forecast that Manhattan Associates Inc. will post $1.79 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its position in Manhattan Associates by 1.6% in the second quarter. Fifth Third Bancorp now owns 11,082 shares of the company’s stock valued at $711,000 after buying an additional 173 shares during the last quarter. Panagora Asset Management Inc. raised its position in Manhattan Associates by 7.6% in the second quarter. Panagora Asset Management Inc. now owns 5,597 shares of the company’s stock valued at $359,000 after buying an additional 396 shares during the last quarter. Reliance Trust Co. of Delaware raised its position in Manhattan Associates by 9.7% in the second quarter. Reliance Trust Co. of Delaware now owns 6,586 shares of the company’s stock valued at $423,000 after buying an additional 582 shares during the last quarter. Trexquant Investment LP raised its position in Manhattan Associates by 8.8% in the second quarter. Trexquant Investment LP now owns 7,400 shares of the company’s stock valued at $475,000 after buying an additional 600 shares during the last quarter. Finally, BlackRock Japan Co. Ltd raised its position in Manhattan Associates by 2.6% in the second quarter. BlackRock Japan Co. Ltd now owns 30,383 shares of the company’s stock valued at $1,948,000 after buying an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.
Manhattan Associates Company Profile
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has 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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