Zacks: Brokerages Anticipate Manitowoc Company Inc (MTW) Will Post Quarterly Sales of $373.68 Million

Analysts forecast that Manitowoc Company Inc (NYSE:MTW) will post sales of $373.68 million for the current quarter, according to Zacks. Eight analysts have issued estimates for Manitowoc’s earnings, with the lowest sales estimate coming in at $337.75 million and the highest estimate coming in at $390.30 million. Manitowoc posted sales of $305.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The company is scheduled to report its next quarterly earnings results on Monday, May 14th.

On average, analysts expect that Manitowoc will report full-year sales of $373.68 million for the current year, with estimates ranging from $1.68 billion to $1.84 billion. For the next fiscal year, analysts expect that the business will post sales of $1.87 billion per share, with estimates ranging from $1.74 billion to $1.98 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Manitowoc.

Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a negative return on equity of 1.59% and a net margin of 0.59%. The firm had revenue of $481.50 million for the quarter, compared to analyst estimates of $423.27 million. During the same quarter last year, the company earned ($0.24) earnings per share. The company’s quarterly revenue was up 27.3% compared to the same quarter last year.

Several equities research analysts have recently weighed in on MTW shares. Robert W. Baird reiterated a “buy” rating and set a $47.00 price objective on shares of Manitowoc in a research report on Friday, November 24th. Seaport Global Securities upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Monday, November 20th. Jefferies Group reiterated a “buy” rating on shares of Manitowoc in a research report on Friday, November 10th. Stifel Nicolaus increased their price objective on shares of Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, SunTrust Banks increased their price objective on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.92.

In other Manitowoc news, SVP Thomas G. Musial sold 4,476 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $33.84, for a total value of $151,467.84. Following the transaction, the senior vice president now directly owns 54,319 shares of the company’s stock, valued at $1,838,154.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles David Myers acquired 3,854 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average cost of $39.12 per share, for a total transaction of $150,768.48. The disclosure for this purchase can be found here. Company insiders own 2.82% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its position in shares of Manitowoc by 343.7% during the third quarter. Ameriprise Financial Inc. now owns 133,340 shares of the industrial products company’s stock valued at $1,200,000 after purchasing an additional 103,289 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Manitowoc by 2.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 580,385 shares of the industrial products company’s stock valued at $5,224,000 after purchasing an additional 12,221 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Manitowoc by 46.4% during the third quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 10,050 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Manitowoc by 17.1% during the second quarter. Wells Fargo & Company MN now owns 151,840 shares of the industrial products company’s stock valued at $912,000 after purchasing an additional 22,133 shares in the last quarter. Finally, Van Den Berg Management I Inc. lifted its position in shares of Manitowoc by 18.4% during the third quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock valued at $16,109,000 after purchasing an additional 278,220 shares in the last quarter.

Manitowoc (MTW) traded down $1.68 on Friday, hitting $33.59. 697,700 shares of the stock traded hands, compared to its average volume of 743,558. Manitowoc has a 52 week low of $21.00 and a 52 week high of $44.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.67 and a current ratio of 1.76. The firm has a market capitalization of $1,181.82, a PE ratio of 159.95 and a beta of 1.33.

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About Manitowoc

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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Earnings History and Estimates for Manitowoc (NYSE:MTW)

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