Manhattan Associates (MANH) Stock Down After Q2 Results

Manhattan Associates (MANH) stock is falling on Wednesday afternoon even after the company reported better-than-expected results for the 2016 second quarter.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Manhattan Associates (MANH) - Get Report are sliding 1.55% to $61.78 on heavy trading volume Wednesday afternoon even though the company reported better-than-expected results for the 2016 second quarter.

After yesterday's market close, the Atlanta-based supply chain software developer posted revenue of $154.9 million. Analysts were expecting revenue of $153.7 million.

Adjusted earnings were 49 cents per diluted share, which topped analysts' estimates of 44 cents per share.

"We continue to invest in omni-channel, retail store and distribution management solutions to drive growth and enhance our market leadership position. Despite the increasing global macro-economic volatility, we remain focused on delivering value to our customers," CEO Eddie Capel said in a statement.

For 2016, Manhattan sees earnings per share between $1.78 and $1.81 on revenue of $615 million to $620 million.

Analysts are projecting earnings of $1.76 per share on revenue of $617.2 million.

About 3.72 million of the company's shares were traded so far today vs. its average 30-day volume of 979,133 shares per day.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and compelling growth in net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: MANH

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