Wall Street brokerages expect Manitowoc Company Inc (NYSE:MTW) to announce $375.34 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Manitowoc’s earnings, with estimates ranging from $351.09 million to $390.30 million. Manitowoc posted sales of $305.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.7%. The business is scheduled to report its next earnings results on Monday, May 14th.
On average, analysts expect that Manitowoc will report full year sales of $1.77 billion for the current fiscal year, with estimates ranging from $1.71 billion to $1.84 billion. For the next financial year, analysts anticipate that the company will post sales of $1.88 billion per share, with estimates ranging from $1.78 billion to $1.98 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Manitowoc.
Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, February 8th. The industrial products company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). The company had revenue of $481.50 million during the quarter, compared to analysts’ expectations of $423.27 million. Manitowoc had a net margin of 0.59% and a negative return on equity of 1.54%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the business earned ($0.24) earnings per share.
Manitowoc stock traded down $0.23 during midday trading on Friday, hitting $28.12. 366,365 shares of the company’s stock were exchanged, compared to its average volume of 727,442. Manitowoc has a 12-month low of $21.20 and a 12-month high of $44.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.89 and a current ratio of 1.76. The company has a market capitalization of $980.17, a P/E ratio of -108.15 and a beta of 1.54.
In other Manitowoc news, SVP Thomas G. Musial sold 1,376 shares of Manitowoc stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.07, for a total transaction of $44,128.32. Following the completion of the transaction, the senior vice president now owns 48,467 shares in the company, valued at $1,554,336.69. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Thomas G. Musial sold 4,476 shares of Manitowoc stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $33.84, for a total transaction of $151,467.84. Following the transaction, the senior vice president now owns 54,319 shares of the company’s stock, valued at approximately $1,838,154.96. The disclosure for this sale can be found here. Insiders sold 9,179 shares of company stock valued at $288,486 in the last quarter. Company insiders own 2.82% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in Manitowoc during the fourth quarter worth about $623,000. Element Capital Management LLC acquired a new position in Manitowoc during the fourth quarter worth about $3,573,000. Raymond James & Associates raised its position in Manitowoc by 5.1% during the fourth quarter. Raymond James & Associates now owns 32,051 shares of the industrial products company’s stock worth $1,261,000 after acquiring an additional 1,563 shares during the last quarter. Jefferies Group LLC acquired a new position in Manitowoc during the fourth quarter worth about $225,000. Finally, AMP Capital Investors Ltd acquired a new position in Manitowoc during the fourth quarter worth about $252,000. Institutional investors own 79.13% of the company’s stock.
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.
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