Zacks: Brokerages Anticipate Manitowoc Company Inc (MTW) Will Announce Earnings of $0.09 Per Share

Equities research analysts expect Manitowoc Company Inc (NYSE:MTW) to post earnings of $0.09 per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Manitowoc’s earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at ($0.06). Manitowoc reported earnings of ($0.15) per share in the same quarter last year, which indicates a positive year over year growth rate of 160%. The firm is expected to announce its next earnings report on Thursday, February 14th.

On average, analysts expect that Manitowoc will report full-year earnings of $0.58 per share for the current fiscal year, with EPS estimates ranging from $0.43 to $0.75. For the next year, analysts forecast that the business will post earnings of $1.42 per share, with EPS estimates ranging from $1.21 to $1.71. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Manitowoc.

Manitowoc (NYSE:MTW) last announced its earnings results on Monday, November 5th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.12. The business had revenue of $450.10 million for the quarter, compared to analysts’ expectations of $452.64 million. Manitowoc had a return on equity of 1.81% and a net margin of 2.56%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share.

A number of analysts have issued reports on the company. Citigroup reduced their price objective on Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 8th. ValuEngine downgraded Manitowoc from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Macquarie lifted their price objective on Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Robert W. Baird raised Manitowoc from a “neutral” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Thursday, September 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Manitowoc in a research note on Sunday, August 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $30.50.

Institutional investors have recently made changes to their positions in the company. Quantum Capital Management purchased a new position in shares of Manitowoc in the 3rd quarter worth approximately $207,000. Private Advisor Group LLC purchased a new position in shares of Manitowoc in the 2nd quarter worth approximately $269,000. Gamco Investors INC. ET AL purchased a new position in Manitowoc during the 3rd quarter valued at $256,000. Fox Run Management L.L.C. purchased a new position in Manitowoc during the 2nd quarter valued at $291,000. Finally, First Trust Advisors LP purchased a new position in Manitowoc during the 2nd quarter valued at $346,000. Hedge funds and other institutional investors own 79.78% of the company’s stock.

Shares of NYSE:MTW opened at $19.61 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.73 and a current ratio of 1.65. Manitowoc has a 52-week low of $16.74 and a 52-week high of $44.03. The stock has a market capitalization of $714.99 million, a price-to-earnings ratio of -75.42 and a beta of 1.62.

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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