Wall Street analysts expect Manitowoc Company Inc (NYSE:MTW) to post earnings of $0.29 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Manitowoc’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.23. Manitowoc posted earnings per share of $0.20 during the same quarter last year, which would indicate a positive year over year growth rate of 45%. The business is expected to issue its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that Manitowoc will report full-year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.39 to $0.73. For the next fiscal year, analysts expect that the business will post earnings of $1.49 per share, with EPS estimates ranging from $1.20 to $1.75. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow Manitowoc.
Manitowoc (NYSE:MTW) last issued its quarterly earnings results on Monday, May 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.09. Manitowoc had a net margin of 2.13% and a return on equity of 1.64%. The firm had revenue of $386.10 million for the quarter, compared to analyst estimates of $374.59 million. During the same period in the previous year, the business earned ($0.68) EPS. The company’s revenue was up 26.3% compared to the same quarter last year.
A number of research analysts have recently commented on the stock. Seaport Global Securities reissued a “buy” rating on shares of Manitowoc in a research report on Wednesday, April 18th. Barclays reissued a “buy” rating and issued a $35.00 price objective on shares of Manitowoc in a research report on Thursday, April 19th. Zacks Investment Research downgraded shares of Manitowoc from a “hold” rating to a “strong sell” rating in a research report on Monday, April 16th. Deutsche Bank decreased their price objective on shares of Manitowoc from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, March 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Manitowoc from $29.00 to $27.00 and set a “sell” rating for the company in a research report on Tuesday, April 10th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $35.31.
Shares of Manitowoc opened at $25.86 on Friday, according to Marketbeat. Manitowoc has a one year low of $22.12 and a one year high of $44.03. The stock has a market capitalization of $918.52 million, a PE ratio of -99.46 and a beta of 1.54. The company has a quick ratio of 0.72, a current ratio of 1.69 and a debt-to-equity ratio of 0.39.
In related news, CEO Barry Pennypacker bought 19,600 shares of Manitowoc stock in a transaction that occurred on Thursday, June 14th. The stock was acquired at an average price of $25.19 per share, with a total value of $493,724.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.82% of the company’s stock.
Several hedge funds have recently made changes to their positions in MTW. Global X Management Co. LLC bought a new stake in shares of Manitowoc during the 1st quarter worth about $205,000. Jefferies Group LLC bought a new stake in shares of Manitowoc during the 4th quarter worth about $225,000. Allianz Asset Management GmbH bought a new stake in shares of Manitowoc during the 4th quarter worth about $227,000. AMP Capital Investors Ltd bought a new stake in shares of Manitowoc during the 4th quarter worth about $252,000. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Manitowoc during the 1st quarter worth about $353,000. 81.63% of the stock is owned by institutional investors and hedge funds.
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 the National Crane brand.
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