Manitowoc Company Inc (MTW) Expected to Announce Quarterly Sales of $373.68 Million

Equities research analysts forecast that Manitowoc Company Inc (NYSE:MTW) will report $373.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Manitowoc’s earnings. The highest sales estimate is $390.30 million and the lowest is $337.75 million. Manitowoc posted sales of $305.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The firm is scheduled to announce its next earnings report on Monday, May 14th.

On average, analysts expect that Manitowoc will report full year sales of $373.68 million for the current fiscal year, with estimates ranging from $1.68 billion to $1.84 billion. For the next financial year, analysts forecast that the company will report sales of $1.87 billion per share, with estimates ranging from $1.74 billion to $1.98 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Manitowoc.

Manitowoc (NYSE:MTW) last released its earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). The firm had revenue of $481.50 million during the quarter, compared to analysts’ expectations of $423.27 million. Manitowoc had a negative return on equity of 1.59% and a net margin of 0.59%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.24) earnings per share.

Several research firms recently issued reports on MTW. Zacks Investment Research lowered shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 21st. Stifel Nicolaus increased their target price on shares of Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks increased their target price on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Barclays started coverage on shares of Manitowoc in a report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 price objective for the company. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $47.00 price objective on shares of Manitowoc in a report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.92.

In related news, Director Charles David Myers purchased 3,854 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $39.12 per share, for a total transaction of $150,768.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas G. Musial sold 4,476 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $33.84, for a total value of $151,467.84. Following the completion of the sale, the senior vice president now owns 54,319 shares of the company’s stock, valued at $1,838,154.96. The disclosure for this sale can be found here. 2.82% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MTW. MetLife Investment Advisors LLC bought a new stake in shares of Manitowoc during the fourth quarter worth $623,000. Element Capital Management LLC bought a new stake in shares of Manitowoc during the fourth quarter worth $3,573,000. Raymond James & Associates lifted its position in shares of 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 purchasing an additional 1,563 shares during the last quarter. Jefferies Group LLC bought a new stake in shares of Manitowoc during the fourth quarter worth $225,000. Finally, AMP Capital Investors Ltd bought a new stake in shares of Manitowoc during the fourth quarter worth $252,000.

Manitowoc (MTW) traded down $1.68 during trading on Friday, reaching $33.59. 697,700 shares of the company traded hands, compared to its average volume of 743,558. The stock has a market cap of $1,181.82, a price-to-earnings ratio of 159.95 and a beta of 1.33. Manitowoc has a one year low of $21.00 and a one year high of $44.03. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44.

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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.

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Earnings History and Estimates for Manitowoc (NYSE:MTW)

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