Manitowoc Company Inc (MTW) Expected to Post Quarterly Sales of $449.92 Million

Equities research analysts expect Manitowoc Company Inc (NYSE:MTW) to report $449.92 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Manitowoc’s earnings. The lowest sales estimate is $439.30 million and the highest is $485.10 million. Manitowoc posted sales of $399.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The business is scheduled to issue its next earnings results on Monday, November 5th.

According to Zacks, analysts expect that Manitowoc will report full-year sales of $1.84 billion for the current financial year, with estimates ranging from $1.83 billion to $1.86 billion. For the next year, analysts expect that the company will report sales of $2.00 billion, with estimates ranging from $1.93 billion to $2.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Manitowoc.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.17. The business had revenue of $495.30 million for the quarter, compared to analyst estimates of $458.03 million. Manitowoc had a return on equity of 2.77% and a net margin of 2.53%. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share.

A number of equities research analysts recently weighed in on MTW shares. Macquarie lifted their target price on Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. Robert W. Baird raised Manitowoc from a “neutral” rating to an “outperform” rating and set a $32.00 target price on the stock in a research report on Thursday, September 20th. Citigroup decreased their target price on Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 8th. Goldman Sachs Group downgraded Manitowoc from a “neutral” rating to a “sell” rating in a research report on Monday, July 16th. Finally, Seaport Global Securities set a $31.00 target price on Manitowoc and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.92.

MTW stock traded down $1.13 during trading on Friday, reaching $19.43. 842,800 shares of the stock were exchanged, compared to its average volume of 556,119. Manitowoc has a twelve month low of $19.36 and a twelve month high of $44.03. The company has a market cap of $778.96 million, a PE ratio of -79.11 and a beta of 1.35. The company has a quick ratio of 0.73, a current ratio of 1.65 and a debt-to-equity ratio of 0.40.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. boosted its holdings in Manitowoc by 69.6% during the third quarter. Fox Run Management L.L.C. now owns 19,049 shares of the industrial products company’s stock valued at $457,000 after purchasing an additional 7,815 shares in the last quarter. Northern Trust Corp boosted its holdings in Manitowoc by 9.9% during the second quarter. Northern Trust Corp now owns 424,934 shares of the industrial products company’s stock valued at $10,989,000 after purchasing an additional 38,372 shares in the last quarter. Putnam Investments LLC acquired a new stake in Manitowoc during the second quarter valued at approximately $1,086,000. Clearline Capital LP acquired a new stake in Manitowoc during the second quarter valued at approximately $621,000. Finally, Raymond James & Associates acquired a new stake in Manitowoc during the second quarter valued at approximately $793,000. 82.01% of the stock is currently owned by institutional investors.

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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