$396.92 Million in Sales Expected for Manitowoc Company Inc (MTW) This Quarter

Equities analysts expect that Manitowoc Company Inc (NYSE:MTW) will post sales of $396.92 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Manitowoc’s earnings. The lowest sales estimate is $381.91 million and the highest is $409.30 million. Manitowoc reported sales of $386.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The firm is expected to announce its next earnings results on Monday, May 6th.

According to Zacks, analysts expect that Manitowoc will report full-year sales of $1.91 billion for the current year, with estimates ranging from $1.88 billion to $1.98 billion. For the next fiscal year, analysts expect that the business will report sales of $1.99 billion, with estimates ranging from $1.92 billion to $2.16 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Manitowoc.

Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Thursday, February 7th. The industrial products company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. Manitowoc had a positive return on equity of 3.45% and a negative net margin of 3.63%. The business had revenue of $515.30 million for the quarter, compared to the consensus estimate of $488.02 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Manitowoc’s revenue for the quarter was up 7.0% compared to the same quarter last year.

MTW has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Manitowoc from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Wednesday, January 2nd. TheStreet downgraded Manitowoc from a “c” rating to a “d+” rating in a research note on Monday, November 26th. Royal Bank of Canada lowered their target price on Manitowoc to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 7th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Manitowoc from a “sell” rating to a “strong sell” rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.33.

Shares of MTW stock traded up $0.54 on Friday, reaching $17.47. 477,567 shares of the company’s stock traded hands, compared to its average volume of 655,331. Manitowoc has a 12-month low of $13.22 and a 12-month high of $35.85. The company has a current ratio of 1.75, a quick ratio of 0.69 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $608.23 million, a price-to-earnings ratio of 27.30 and a beta of 1.85.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Prudential Financial Inc. bought a new stake in shares of Manitowoc during the 3rd quarter worth about $998,000. First Trust Advisors LP boosted its stake in shares of Manitowoc by 410.8% during the 3rd quarter. First Trust Advisors LP now owns 68,284 shares of the industrial products company’s stock worth $1,638,000 after acquiring an additional 54,917 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Manitowoc during the 3rd quarter worth about $574,000. Royce & Associates LP boosted its stake in shares of Manitowoc by 113.6% during the 3rd quarter. Royce & Associates LP now owns 126,000 shares of the industrial products company’s stock worth $3,023,000 after acquiring an additional 67,000 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Manitowoc by 5.2% during the 3rd quarter. Wells Fargo & Company MN now owns 63,518 shares of the industrial products company’s stock worth $1,525,000 after acquiring an additional 3,111 shares in the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Earnings History and Estimates for Manitowoc (NYSE:MTW)

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