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.
ILLEGAL ACTIVITY NOTICE: This news story was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/19/zacks-brokerages-anticipate-manitowoc-company-inc-mtw-will-post-quarterly-sales-of-373-68-million.html.
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.
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
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.