Brokerages predict that Manitowoc Company Inc (NYSE:MTW) will post sales of $271.42 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Manitowoc’s earnings. The highest sales estimate is $294.00 million and the lowest is $252.40 million. Manitowoc reported sales of $504.70 million in the same quarter last year, which would suggest a negative year over year growth rate of 46.2%. The business is expected to report its next quarterly earnings report on Thursday, August 13th.

On average, analysts expect that Manitowoc will report full year sales of $1.35 billion for the current year, with estimates ranging from $1.30 billion to $1.43 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.49 billion, with estimates ranging from $1.37 billion to $1.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Manitowoc.

Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, May 7th. The industrial products company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.08). The company had revenue of $329.20 million for the quarter, compared to the consensus estimate of $353.73 million. Manitowoc had a return on equity of 9.41% and a net margin of 3.75%. Manitowoc’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 EPS.

Several research firms recently commented on MTW. Goldman Sachs Group downgraded Manitowoc from a “buy” rating to a “neutral” rating and cut their target price for the stock from $12.00 to $11.00 in a research report on Monday, April 20th. TheStreet upgraded Manitowoc from a “d+” rating to a “c-” rating in a research report on Friday. ValuEngine upgraded Manitowoc from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Royal Bank of Canada reiterated a “hold” rating on shares of Manitowoc in a research report on Sunday, May 10th. Finally, Citigroup lifted their price objective on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Manitowoc presently has an average rating of “Hold” and an average target price of $14.43.

Shares of Manitowoc stock traded down $0.12 during midday trading on Thursday, hitting $10.88. 263,905 shares of the company were exchanged, compared to its average volume of 505,442. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.91 and a quick ratio of 0.70. The firm has a market cap of $361.30 million, a P/E ratio of 5.91 and a beta of 1.98. Manitowoc has a 52 week low of $7.24 and a 52 week high of $18.55. The firm has a 50 day simple moving average of $10.09 and a 200-day simple moving average of $11.96.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTW. Tower Research Capital LLC TRC acquired a new stake in shares of Manitowoc in the 1st quarter valued at $42,000. Great West Life Assurance Co. Can acquired a new stake in shares of Manitowoc in the 4th quarter valued at $54,000. SG Americas Securities LLC increased its stake in shares of Manitowoc by 88.1% in the 1st quarter. SG Americas Securities LLC now owns 13,450 shares of the industrial products company’s stock valued at $114,000 after buying an additional 6,300 shares during the period. Advisor Group Inc. increased its stake in shares of Manitowoc by 21.7% in the 4th quarter. Advisor Group Inc. now owns 6,658 shares of the industrial products company’s stock valued at $116,000 after buying an additional 1,186 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Manitowoc by 42.5% in the 4th quarter. Bank of Montreal Can now owns 7,128 shares of the industrial products company’s stock valued at $125,000 after buying an additional 2,127 shares during the period. 75.55% 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 under the National Crane brand.

Featured Article: How do buyers and sellers choose a strike price?

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

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.