Brokerages predict that Manitowoc Company Inc (NYSE:MTW) will report earnings of $0.12 per share for the current quarter, Zacks reports. Seven analysts have made estimates for Manitowoc’s earnings. The lowest EPS estimate is ($0.03) and the highest is $0.23. Manitowoc reported earnings per share of $0.36 during the same quarter last year, which suggests a negative year over year growth rate of 66.7%. The company is expected to issue its next earnings report on Monday, November 5th.
On average, analysts expect that Manitowoc will report full-year earnings of $0.56 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.75. For the next fiscal year, analysts forecast that the firm will report earnings of $1.50 per share, with EPS estimates ranging from $1.22 to $1.75. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Manitowoc.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.17. Manitowoc had a return on equity of 2.77% and a net margin of 2.53%. The firm had revenue of $495.30 million for the quarter, compared to analyst estimates of $458.03 million. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue for the quarter was up 25.5% on a year-over-year basis.
A number of brokerages have recently commented on MTW. Seaport Global Securities set a $31.00 price target on Manitowoc and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Manitowoc in a research note on Sunday. ValuEngine raised Manitowoc from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Macquarie lifted their price objective on Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Citigroup cut their price objective on Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Manitowoc has a consensus rating of “Hold” and a consensus price target of $31.85.
Shares of MTW stock traded down $0.57 during mid-day trading on Friday, reaching $22.93. 364,498 shares of the stock traded hands, compared to its average volume of 532,886. Manitowoc has a 1-year low of $22.75 and a 1-year high of $44.03. The firm has a market capitalization of $835.11 million, a price-to-earnings ratio of -88.19 and a beta of 1.40. The company has a current ratio of 1.65, a quick ratio of 0.72 and a debt-to-equity ratio of 0.40.
In other Manitowoc news, CEO Barry Pennypacker bought 19,600 shares of the stock in a transaction on Thursday, June 14th. The stock was acquired at an average cost of $25.19 per share, for a total transaction of $493,724.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.82% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Global X Management Co. LLC bought a new stake in Manitowoc in the first quarter worth approximately $205,000. Private Advisor Group LLC bought a new stake in Manitowoc in the second quarter worth approximately $269,000. Fox Run Management L.L.C. bought a new stake in Manitowoc in the second quarter worth approximately $291,000. Virginia Retirement Systems ET AL bought a new stake in Manitowoc in the first quarter worth approximately $353,000. Finally, First Trust Advisors LP bought a new stake in Manitowoc in the second quarter worth approximately $346,000. Institutional investors and hedge funds own 79.61% of the company’s stock.
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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