$375.34 Million in Sales Expected for Manitowoc Company Inc (MTW) This Quarter

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.



MTW has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on shares of Manitowoc from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, February 12th. Deutsche Bank reduced their target price on shares of Manitowoc from $44.00 to $36.00 and set a “hold” rating for the company in a research note on Monday, February 12th. JPMorgan Chase cut shares of Manitowoc from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $30.00 to $29.00 in a research note on Monday, February 12th. Zacks Investment Research upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Finally, ValuEngine cut shares of Manitowoc from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $38.38.

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.

TRADEMARK VIOLATION NOTICE: “$375.34 Million in Sales Expected for Manitowoc Company Inc (MTW) This Quarter” was reported by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://dakotafinancialnews.com/2018/04/13/375-34-million-in-sales-expected-for-manitowoc-company-inc-mtw-this-quarter.html.

About Manitowoc

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.

Get a free copy of the Zacks research report on Manitowoc (MTW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Manitowoc (NYSE:MTW)

Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply