Manitowoc Company Inc (MTW) Expected to Post Quarterly Sales of $396.82 Million

Wall Street brokerages forecast that Manitowoc Company Inc (NYSE:MTW) will announce $396.82 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Manitowoc’s earnings. The highest sales estimate is $409.30 million and the lowest is $381.91 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 scheduled to report its next earnings report on Monday, May 6th.

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

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, February 7th. The industrial products company reported $0.16 EPS 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 firm had revenue of $515.30 million for the quarter, compared to analyst estimates of $488.02 million. During the same period in the prior year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis.

A number of brokerages have commented on MTW. Zacks Investment Research raised Manitowoc from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, January 2nd. ValuEngine lowered Manitowoc from a “sell” rating to a “strong sell” rating in a report on Monday, February 4th. Royal Bank of Canada decreased their price objective on Manitowoc to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 7th. They noted that the move was a valuation call. Finally, TheStreet lowered Manitowoc from a “c” rating to a “d+” rating in a report on Monday, November 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $29.33.

NYSE MTW traded up $0.64 on Friday, reaching $17.32. The stock had a trading volume of 820,400 shares, compared to its average volume of 672,393. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.75 and a quick ratio of 0.69. Manitowoc has a 1-year low of $13.22 and a 1-year high of $35.85. The firm has a market cap of $602.47 million, a price-to-earnings ratio of 27.06 and a beta of 1.85.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of Manitowoc by 11.2% during the 4th quarter. Stifel Financial Corp now owns 16,705 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 1,685 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Manitowoc by 11.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,891,463 shares of the industrial products company’s stock worth $42,707,000 after purchasing an additional 304,977 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Manitowoc by 60.6% in the fourth quarter. Hsbc Holdings PLC now owns 24,583 shares of the industrial products company’s stock valued at $363,000 after buying an additional 9,280 shares in the last quarter. Alambic Investment Management L.P. acquired a new stake in Manitowoc in the fourth quarter valued at about $1,471,000. Finally, Raymond James & Associates boosted its stake in Manitowoc by 6.6% in the fourth quarter. Raymond James & Associates now owns 12,602 shares of the industrial products company’s stock valued at $186,000 after buying an additional 782 shares in the last quarter. 83.16% of the stock is currently owned by institutional investors.

About Manitowoc

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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