Equities analysts expect Manitowoc Company Inc (NYSE:MTW) to post $396.92 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Manitowoc’s earnings, with the highest sales estimate coming in at $409.30 million and the lowest estimate coming in at $381.91 million. Manitowoc posted sales of $386.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.8%. The business is expected to report its next quarterly earnings results on Monday, May 6th.
According to Zacks, analysts expect that Manitowoc will report full-year sales of $1.91 billion for the current year, with estimates ranging from $1.88 billion to $1.98 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.99 billion, with estimates ranging from $1.93 billion to $2.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Manitowoc.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Thursday, February 7th. The industrial products company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. Manitowoc had a negative net margin of 3.63% and a positive return on equity of 3.55%. The firm had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $488.02 million. During the same period in the prior year, the company earned ($0.15) EPS. The firm’s revenue was up 7.0% on a year-over-year basis.
Manitowoc stock traded up $0.42 during trading on Thursday, reaching $19.03. 635,577 shares of the company’s stock were exchanged, compared to its average volume of 494,969. The company has a current ratio of 1.70, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44. Manitowoc has a 52-week low of $13.22 and a 52-week high of $29.06. The stock has a market cap of $651.33 million, a price-to-earnings ratio of 29.73 and a beta of 1.88.
In other news, CEO Barry Pennypacker sold 12,388 shares of the stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $16.46, for a total transaction of $203,906.48. Following the transaction, the chief executive officer now owns 136,862 shares of the company’s stock, valued at $2,252,748.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aaron H. Ravenscroft sold 3,191 shares of the stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $16.48, for a total transaction of $52,587.68. Following the transaction, the executive vice president now directly owns 20,697 shares in the company, valued at approximately $341,086.56. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Several hedge funds have recently modified their holdings of MTW. Wells Fargo & Company MN lifted its position in shares of Manitowoc by 5.2% during the third quarter. Wells Fargo & Company MN now owns 63,518 shares of the industrial products company’s stock worth $1,525,000 after purchasing an additional 3,111 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Manitowoc during the third quarter worth about $998,000. Dimensional Fund Advisors LP lifted its position in shares of Manitowoc by 9.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,586,486 shares of the industrial products company’s stock worth $62,050,000 after purchasing an additional 227,048 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Manitowoc during the third quarter worth about $367,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Manitowoc during the third quarter worth about $215,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.
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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