Equities analysts expect that Manitowoc Company Inc (NYSE:MTW) will report earnings of $0.09 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Manitowoc’s earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.23. Manitowoc reported earnings per share of $0.36 during the same quarter last year, which would indicate a negative year-over-year growth rate of 75%. The company is expected to announce its next earnings report on Monday, November 5th.
On average, analysts expect that Manitowoc will report full year earnings of $0.53 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.75. For the next fiscal year, analysts anticipate that the company will report earnings of $1.51 per share, with EPS estimates ranging from $1.22 to $1.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Manitowoc.
Manitowoc (NYSE:MTW) last posted its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. Manitowoc had a net margin of 2.53% and a return on equity of 2.77%. The company had revenue of $495.30 million for the quarter, compared to the consensus estimate of $458.03 million. During the same period last year, the company posted $0.20 EPS. The firm’s quarterly revenue was up 25.5% compared to the same quarter last year.
MTW has been the topic of several recent research reports. Macquarie lifted their target price on shares of Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. OTR Global downgraded shares of Manitowoc to a “positive” rating in a research report on Tuesday, June 5th. Citigroup cut their target price on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 8th. ValuEngine upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Finally, Goldman Sachs Group downgraded shares of Manitowoc from a “neutral” rating to a “sell” rating in a research report on Monday, July 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $31.85.
In other news, CEO Barry Pennypacker purchased 19,600 shares of the stock in a transaction on Thursday, June 14th. The stock was purchased at an average price of $25.19 per share, for a total transaction of $493,724.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.82% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in MTW. Global X Management Co. LLC bought a new position in Manitowoc during the 1st quarter worth approximately $205,000. Private Advisor Group LLC bought a new position in Manitowoc during the 2nd quarter worth approximately $269,000. Fox Run Management L.L.C. bought a new position in Manitowoc during the 2nd quarter worth approximately $291,000. First Trust Advisors LP bought a new position in Manitowoc during the 2nd quarter worth approximately $346,000. Finally, Virginia Retirement Systems ET AL bought a new position in Manitowoc during the 1st quarter worth approximately $353,000. Hedge funds and other institutional investors own 82.02% of the company’s stock.
NYSE:MTW traded down $0.14 during mid-day trading on Friday, hitting $22.64. 372,479 shares of the company’s stock were exchanged, compared to its average volume of 330,106. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.65 and a quick ratio of 0.73. Manitowoc has a fifty-two week low of $21.18 and a fifty-two week high of $44.03. The company has a market cap of $809.52 million, a PE ratio of -87.08 and a beta of 1.33.
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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