Brokerages forecast that Manitowoc Company Inc (NYSE:MTW) will report earnings per share of ($0.06) for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Manitowoc’s earnings, with estimates ranging from ($0.24) to $0.09. Manitowoc posted earnings of ($0.92) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 93.5%. The business is scheduled to announce its next earnings results on Wednesday, February 7th.
On average, analysts expect that Manitowoc will report full year earnings of ($0.17) per share for the current fiscal year, with EPS estimates ranging from ($0.32) to ($0.03). For the next fiscal year, analysts forecast that the business will post earnings of $0.62 per share, with EPS estimates ranging from $0.20 to $1.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Manitowoc.
Manitowoc (NYSE:MTW) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.44. The business had revenue of $399.40 million during the quarter, compared to analysts’ expectations of $385.01 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company posted ($1.12) EPS.
A number of brokerages recently issued reports on MTW. SunTrust Banks increased their target price on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research cut shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 21st. Barclays began coverage on shares of Manitowoc in a research report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 target price for the company. Robert W. Baird reiterated a “buy” rating and set a $47.00 target price on shares of Manitowoc in a research report on Friday, November 24th. Finally, Seaport Global Securities upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Monday, November 20th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $39.64.
Shares of Manitowoc (NYSE MTW) opened at $39.00 on Thursday. The stock has a market cap of $1,370.00, a PE ratio of -28.47 and a beta of 1.56. The company has a current ratio of 1.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.44. Manitowoc has a 1 year low of $21.00 and a 1 year high of $42.12.
In related news, Director Charles David Myers acquired 3,854 shares of the stock in a transaction on Wednesday, November 29th. The stock was purchased at an average price of $39.12 per share, for a total transaction of $150,768.48. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.82% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Manitowoc by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock valued at $63,834,000 after acquiring an additional 471,356 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Manitowoc by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,113,220 shares of the industrial products company’s stock valued at $82,019,000 after acquiring an additional 465,797 shares in the last quarter. Southpoint Capital Advisors LP increased its position in Manitowoc by 29.2% in the 2nd quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock valued at $46,578,000 after acquiring an additional 1,750,000 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Manitowoc by 14.2% in the 2nd quarter. Franklin Resources Inc. now owns 3,549,300 shares of the industrial products company’s stock valued at $21,331,000 after purchasing an additional 440,000 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Manitowoc by 6.4% in the 2nd quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock valued at $14,926,000 after purchasing an additional 150,097 shares during the last quarter.
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Manitowoc Company Profile
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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