Wall Street analysts forecast that Manitowoc Company Inc (NYSE:MTW) will report $453.73 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Manitowoc’s earnings, with the highest sales estimate coming in at $486.40 million and the lowest estimate coming in at $435.30 million. Manitowoc reported sales of $399.40 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.6%. The business is expected to issue its next quarterly earnings results on Monday, November 5th.

On average, analysts expect that Manitowoc will report full year sales of $1.85 billion for the current fiscal year, with estimates ranging from $1.83 billion to $1.87 billion. For the next year, analysts forecast that the business will post sales of $1.99 billion per share, with estimates ranging from $1.90 billion to $2.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Manitowoc.

Manitowoc (NYSE:MTW) last released its earnings results on Monday, August 6th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. The firm had revenue of $495.30 million during the quarter, compared to the consensus estimate of $458.03 million. Manitowoc had a net margin of 2.53% and a return on equity of 2.77%. Manitowoc’s revenue was up 25.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share.

Several analysts recently issued reports on the stock. Citigroup cut their price target on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Manitowoc in a report on Sunday. Seaport Global Securities reaffirmed a “buy” rating on shares of Manitowoc in a report on Wednesday, April 18th. ValuEngine lowered shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, Macquarie increased their target price on shares of Manitowoc from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Manitowoc currently has an average rating of “Hold” and an average price target of $31.85.

MTW traded down $0.57 during trading on Tuesday, hitting $22.93. The company had a trading volume of 364,498 shares, compared to its average volume of 532,886. The stock has a market capitalization of $835.11 million, a PE ratio of -88.19 and a beta of 1.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.65 and a quick ratio of 0.72. Manitowoc has a 1-year low of $22.75 and a 1-year high of $44.03.

In other Manitowoc news, CEO Barry Pennypacker acquired 19,600 shares of Manitowoc stock in a transaction dated Thursday, June 14th. The stock was bought at an average price of $25.19 per share, for a total transaction of $493,724.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.82% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MTW. Gabelli Funds LLC grew its stake in shares of Manitowoc by 20.3% in the second quarter. Gabelli Funds LLC now owns 59,250 shares of the industrial products company’s stock worth $1,532,000 after acquiring an additional 10,000 shares during the last quarter. Summit Global Investments acquired a new stake in shares of Manitowoc in the second quarter worth $647,000. PNC Financial Services Group Inc. grew its stake in shares of Manitowoc by 476.5% in the second quarter. PNC Financial Services Group Inc. now owns 14,187 shares of the industrial products company’s stock worth $366,000 after acquiring an additional 11,726 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Manitowoc by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,359,438 shares of the industrial products company’s stock worth $61,015,000 after acquiring an additional 7,343 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Manitowoc by 8.8% in the second quarter. BlackRock Inc. now owns 2,459,641 shares of the industrial products company’s stock worth $63,605,000 after acquiring an additional 197,928 shares during the last quarter. 79.61% of the stock is owned by institutional investors.

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 the National Crane brand.

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Earnings History and Estimates for Manitowoc (NYSE:MTW)

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