$271.42 Million in Sales Expected for Manitowoc Company Inc (NYSE:MTW) This Quarter

Equities research analysts expect that Manitowoc Company Inc (NYSE:MTW) will post sales of $271.42 million for the current quarter, according to Zacks. Five analysts have issued estimates for Manitowoc’s earnings, with the highest sales estimate coming in at $294.00 million and the lowest estimate coming in at $252.40 million. Manitowoc reported sales of $504.70 million during the same quarter last year, which indicates a negative year over year growth rate of 46.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 13th.

According to Zacks, analysts expect that Manitowoc will report full-year sales of $1.35 billion for the current financial year, with estimates ranging from $1.30 billion to $1.43 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.49 billion, with estimates ranging from $1.37 billion to $1.60 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Manitowoc.

Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, May 7th. The industrial products company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The business had revenue of $329.20 million during the quarter, compared to analyst estimates of $353.73 million. Manitowoc had a net margin of 3.75% and a return on equity of 9.41%. The firm’s revenue was down 21.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share.

A number of analysts have recently commented on the company. TheStreet upgraded Manitowoc from a “d+” rating to a “c-” rating in a report on Friday. Citigroup boosted their price target on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Goldman Sachs Group lowered Manitowoc from a “buy” rating to a “neutral” rating and cut their price target for the company from $12.00 to $11.00 in a report on Monday, April 20th. Royal Bank of Canada restated a “hold” rating on shares of Manitowoc in a report on Sunday, May 10th. Finally, Credit Suisse Group dropped their target price on Manitowoc from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.43.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTW. Towle & Co. acquired a new position in Manitowoc during the first quarter worth approximately $13,095,000. Kennedy Capital Management Inc. acquired a new position in Manitowoc during the fourth quarter worth approximately $7,498,000. Morgan Stanley increased its position in Manitowoc by 214.2% during the first quarter. Morgan Stanley now owns 337,959 shares of the industrial products company’s stock worth $2,872,000 after buying an additional 230,386 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Manitowoc by 144.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 278,926 shares of the industrial products company’s stock worth $4,882,000 after buying an additional 164,700 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Manitowoc by 5,550.2% during the fourth quarter. Marshall Wace LLP now owns 163,518 shares of the industrial products company’s stock worth $2,862,000 after buying an additional 160,624 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Shares of Manitowoc stock traded down $0.12 during trading on Thursday, reaching $10.88. The stock had a trading volume of 263,905 shares, compared to its average volume of 505,442. The company has a market capitalization of $361.30 million, a price-to-earnings ratio of 5.91 and a beta of 1.98. The stock has a fifty day moving average price of $10.09 and a two-hundred day moving average price of $11.96. Manitowoc has a 52 week low of $7.24 and a 52 week high of $18.55. The company has a current ratio of 1.91, a quick ratio of 0.70 and a debt-to-equity ratio of 0.56.

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 under the National Crane brand.

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