Brokerages expect Manitowoc Company Inc (NYSE:MTW) to report $423.19 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Manitowoc’s earnings. The highest sales estimate is $446.04 million and the lowest is $404.70 million. Manitowoc posted sales of $378.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.9%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Manitowoc will report full-year sales of $423.19 million for the current fiscal year, with estimates ranging from $1.50 billion to $1.55 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.62 billion per share, with estimates ranging from $1.55 billion to $1.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Manitowoc.
Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.44. The company had revenue of $399.40 million during the quarter, compared to analysts’ expectations of $385.01 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted ($1.12) earnings per share.
A number of equities analysts have weighed in on the stock. SunTrust Banks upped their price objective on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research cut shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 21st. Barclays initiated coverage on shares of Manitowoc in a report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 target price for the company. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 target price on shares of Manitowoc in a report on Friday, November 24th. Finally, Seaport Global Securities raised shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a report on Monday, November 20th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.64.
In other Manitowoc news, Director Charles David Myers bought 3,854 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average price of $39.12 per share, with a total value of $150,768.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.82% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MTW. Cipher Capital LP purchased a new stake in shares of Manitowoc in the third quarter valued at about $109,000. BNP Paribas Arbitrage SA grew its holdings in shares of Manitowoc by 646.0% in the second quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 16,065 shares during the period. Invictus RG purchased a new stake in shares of Manitowoc in the third quarter valued at about $124,000. Advisor Group Inc. grew its holdings in shares of Manitowoc by 2.4% in the second quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 572 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Manitowoc by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 3,733 shares during the period.
Manitowoc (MTW) traded down $0.85 during trading hours on Friday, reaching $39.36. 507,153 shares of the company’s stock were exchanged, compared to its average volume of 403,200. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. The firm has a market capitalization of $1,414.73, a PE ratio of -22.88 and a beta of 1.44. Manitowoc has a 52 week low of $21.00 and a 52 week high of $42.12.
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Manitowoc Company Profile
The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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