Equities research analysts expect Manitowoc Company, Inc. (The) (NYSE:MTW) to post sales of $422.25 million for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Manitowoc’s earnings. The lowest sales estimate is $404.70 million and the highest is $438.47 million. Manitowoc reported sales of $378.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.6%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 7th.
On average, analysts expect that Manitowoc will report full year sales of $422.25 million for the current financial year, with estimates ranging from $1.50 billion to $1.54 billion. For the next year, analysts expect that the company will post sales of $1.62 billion per share, with estimates ranging from $1.55 billion to $1.67 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Manitowoc.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.44. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The company had revenue of $399.40 million during the quarter, compared to analyst estimates of $385.01 million. During the same quarter in the previous year, the business earned ($1.12) EPS. The firm’s revenue was up 14.2% on a year-over-year basis.
MTW has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Manitowoc in a research note on Friday, October 6th. SunTrust Banks reaffirmed a “hold” rating and issued a $28.00 target price on shares of Manitowoc in a research note on Friday, October 27th. Zacks Investment Research lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada raised shares of Manitowoc from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $48.00 in a research note on Wednesday, November 1st. Finally, Citigroup upped their target price on shares of Manitowoc from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.34.
Shares of Manitowoc (NYSE MTW) traded down $0.32 during midday trading on Friday, reaching $40.48. 312,710 shares of the company were exchanged, compared to its average volume of 236,983. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67. Manitowoc has a 12-month low of $21.00 and a 12-month high of $42.12.
In other Manitowoc news, Director Charles David Myers purchased 3,854 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were purchased at an average cost of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.82% of the company’s stock.
Large investors have recently modified their holdings of the business. Cipher Capital LP bought a new stake in Manitowoc during the 3rd quarter worth about $109,000. Invictus RG bought a new stake in Manitowoc during the 3rd quarter worth about $124,000. Annex Advisory Services LLC lifted its position in Manitowoc by 22.3% during the 2nd quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock worth $104,000 after buying an additional 3,158 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Manitowoc by 646.0% in the 2nd 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. Finally, Advisor Group Inc. raised its holdings in shares of Manitowoc by 2.4% in the 2nd 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.
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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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