$511.96 Million in Sales Expected for Manitowoc Company Inc (MTW) This Quarter

Wall Street analysts expect that Manitowoc Company Inc (NYSE:MTW) will report sales of $511.96 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Manitowoc’s earnings. The highest sales estimate is $520.23 million and the lowest is $497.10 million. Manitowoc reported sales of $481.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.3%. The company is scheduled to report its next earnings results on Thursday, February 14th.

On average, analysts expect that Manitowoc will report full-year sales of $1.84 billion for the current year, with estimates ranging from $1.83 billion to $1.85 billion. For the next year, analysts anticipate that the company will post sales of $2.00 billion, with estimates ranging from $1.93 billion to $2.10 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Manitowoc.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.12. Manitowoc had a return on equity of 1.81% and a net margin of 2.56%. The company had revenue of $450.10 million for the quarter, compared to the consensus estimate of $452.64 million. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Royal Bank of Canada decreased their price target on Manitowoc to $35.00 and set an “outperform” rating for the company in a research note on Wednesday. They noted that the move was a valuation call. Citigroup decreased their price target on Manitowoc from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, August 8th. ValuEngine cut Manitowoc from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Macquarie increased their price target on Manitowoc from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Finally, Robert W. Baird upgraded Manitowoc from a “neutral” rating to an “outperform” rating and set a $32.00 price target for the company in a research note on Thursday, September 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Manitowoc presently has an average rating of “Buy” and a consensus price target of $30.50.

Manitowoc stock opened at $20.14 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.65 and a quick ratio of 0.73. Manitowoc has a one year low of $16.74 and a one year high of $44.03. The stock has a market capitalization of $714.99 million, a price-to-earnings ratio of 60.97 and a beta of 1.62.

Several large investors have recently made changes to their positions in MTW. LPL Financial LLC raised its stake in shares of Manitowoc by 19.4% in the first quarter. LPL Financial LLC now owns 16,892 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 2,739 shares during the last quarter. Royal Bank of Canada raised its position in Manitowoc by 7.7% during the first quarter. Royal Bank of Canada now owns 33,024 shares of the industrial products company’s stock valued at $940,000 after acquiring an additional 2,367 shares in the last quarter. Columbia Partners L L C Investment Management raised its position in Manitowoc by 100.0% during the second quarter. Columbia Partners L L C Investment Management now owns 31,524 shares of the industrial products company’s stock valued at $815,000 after acquiring an additional 15,762 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Manitowoc during the second quarter valued at approximately $291,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Manitowoc by 68.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,201 shares of the industrial products company’s stock valued at $600,000 after acquiring an additional 9,410 shares in the last quarter. Hedge funds and other institutional investors own 79.78% 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.

Recommended Story: Short Selling

Get a free copy of the Zacks research report on Manitowoc (MTW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Manitowoc (NYSE:MTW)

Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply