$493.53 Million in Sales Expected for Manitowoc Company Inc (NYSE:MTW) This Quarter

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Brokerages forecast that Manitowoc Company Inc (NYSE:MTW) will report $493.53 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Manitowoc’s earnings, with the highest sales estimate coming in at $496.30 million and the lowest estimate coming in at $489.00 million. Manitowoc reported sales of $515.30 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.2%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 6th.

According to Zacks, analysts expect that Manitowoc will report full year sales of $1.86 billion for the current fiscal year, with estimates ranging from $1.86 billion to $1.87 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.74 billion, with estimates ranging from $1.65 billion to $1.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Manitowoc.

Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.20. The firm had revenue of $448.00 million during the quarter, compared to the consensus estimate of $455.27 million. Manitowoc had a negative net margin of 2.17% and a positive return on equity of 10.11%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS.

MTW has been the subject of several research analyst reports. Citigroup cut Manitowoc from a “neutral” rating to a “sell” rating and reduced their target price for the company from $16.00 to $10.00 in a research note on Tuesday, October 15th. ValuEngine upgraded Manitowoc from a “strong sell” rating to a “sell” rating in a research note on Friday, January 10th. Goldman Sachs Group upgraded Manitowoc from a “sell” rating to a “buy” rating and increased their target price for the company from $12.00 to $18.00 in a research note on Friday, November 8th. Barclays reiterated a “buy” rating and set a $15.00 target price on shares of Manitowoc in a research note on Wednesday, October 16th. Finally, Zacks Investment Research upgraded Manitowoc from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.83.

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Manitowoc by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,666 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 1,648 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Manitowoc in the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC boosted its position in shares of Manitowoc by 513.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 4,193 shares during the period. Northern Trust Corp boosted its position in shares of Manitowoc by 1.0% in the 2nd quarter. Northern Trust Corp now owns 436,493 shares of the industrial products company’s stock valued at $7,770,000 after purchasing an additional 4,232 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Manitowoc by 34.6% in the 2nd quarter. Royal Bank of Canada now owns 16,837 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 4,327 shares during the period. 76.67% of the stock is currently owned by institutional investors.

NYSE MTW traded down $0.34 on Thursday, reaching $16.36. The company had a trading volume of 219,313 shares, compared to its average volume of 221,642. The firm has a market capitalization of $590.33 million, a PE ratio of -14.23, a P/E/G ratio of 1.09 and a beta of 2.28. Manitowoc has a 1 year low of $10.49 and a 1 year high of $19.77. The firm has a 50-day moving average of $16.78 and a 200-day moving average of $15.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.91 and a quick ratio of 0.76.

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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