Manhattan Associates, Inc. (MANH) Updates FY17 Earnings Guidance

Manhattan Associates, Inc. (NASDAQ:MANH) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.85-1.89 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.90. The company issued revenue guidance of $590-600 million, compared to the consensus revenue estimate of $610.65 million.

Manhattan Associates, Inc. (NASDAQ MANH) traded up 1.07% during mid-day trading on Thursday, hitting $47.43. 927,788 shares of the company were exchanged. Manhattan Associates, Inc. has a 12-month low of $44.83 and a 12-month high of $62.14. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 27.23 and a beta of 1.18. The stock’s 50 day moving average is $47.09 and its 200-day moving average is $48.72.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Thursday, April 20th. The software maker reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Manhattan Associates had a net margin of 20.89% and a return on equity of 73.76%. The company had revenue of $143.49 million for the quarter, compared to the consensus estimate of $146.49 million. During the same quarter in the previous year, the company earned $0.42 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts predict that Manhattan Associates, Inc. will post $1.90 EPS for the current year.

Manhattan Associates declared that its Board of Directors has initiated a stock buyback program on Thursday, April 20th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Several brokerages recently issued reports on MANH. Benchmark Co. downgraded shares of Manhattan Associates from a buy rating to a hold rating in a research report on Friday, April 21st. Zacks Investment Research upgraded shares of Manhattan Associates from a sell rating to a hold rating in a research report on Wednesday, April 5th. SunTrust Banks, Inc. began coverage on shares of Manhattan Associates in a research report on Monday, June 26th. They set a hold rating and a $45.00 price target on the stock. Finally, BidaskClub upgraded shares of Manhattan Associates from a sell rating to a hold rating in a research report on Friday, June 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Manhattan Associates currently has a consensus rating of Hold and a consensus price target of $59.50.

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About Manhattan Associates

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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