Equities research analysts expect that Manitowoc Company Inc (NYSE:MTW) will post sales of $509.73 million for the current quarter, according to Zacks. Five analysts have provided estimates for Manitowoc’s earnings. The highest sales estimate is $515.10 million and the lowest is $499.50 million. Manitowoc posted sales of $495.30 million during the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is scheduled to report its next quarterly earnings results on Monday, August 5th.
According to Zacks, analysts expect that Manitowoc will report full-year sales of $1.93 billion for the current year, with estimates ranging from $1.91 billion to $1.94 billion. For the next year, analysts anticipate that the firm will report sales of $1.99 billion, with estimates ranging from $1.98 billion to $2.02 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Manitowoc.
Manitowoc (NYSE:MTW) last issued its earnings results on Thursday, May 9th. The industrial products company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. Manitowoc had a positive return on equity of 4.78% and a negative net margin of 4.46%. The company had revenue of $418.00 million during the quarter, compared to the consensus estimate of $399.28 million. During the same period in the previous year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year.
Shares of NYSE MTW traded down $0.11 during midday trading on Friday, hitting $16.25. 333,747 shares of the company’s stock were exchanged, compared to its average volume of 480,477. The company has a current ratio of 1.76, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. Manitowoc has a 12 month low of $13.22 and a 12 month high of $28.54. The company has a market capitalization of $579.44 million, a P/E ratio of 25.39 and a beta of 1.89.
In other news, CEO Barry Pennypacker sold 12,388 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $16.46, for a total value of $203,906.48. Following the completion of the sale, the chief executive officer now directly owns 136,862 shares of the company’s stock, valued at $2,252,748.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Aaron H. Ravenscroft sold 3,191 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $16.48, for a total value of $52,587.68. Following the completion of the sale, the executive vice president now directly owns 20,697 shares of the company’s stock, valued at $341,086.56. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Manitowoc by 11.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,891,463 shares of the industrial products company’s stock worth $42,707,000 after buying an additional 304,977 shares during the period. Renaissance Technologies LLC acquired a new position in Manitowoc during the first quarter worth about $4,729,000. Front Street Capital Management Inc. boosted its position in Manitowoc by 71.0% during the first quarter. Front Street Capital Management Inc. now owns 654,225 shares of the industrial products company’s stock worth $10,736,000 after acquiring an additional 271,600 shares during the last quarter. Marshall Wace LLP boosted its position in Manitowoc by 185.9% during the first quarter. Marshall Wace LLP now owns 366,973 shares of the industrial products company’s stock worth $6,022,000 after acquiring an additional 238,618 shares during the last quarter. Finally, Rutabaga Capital Management LLC MA boosted its position in Manitowoc by 16.0% during the fourth quarter. Rutabaga Capital Management LLC MA now owns 731,032 shares of the industrial products company’s stock worth $10,797,000 after acquiring an additional 100,748 shares during the last quarter. 78.74% of the stock is owned by hedge funds and other institutional investors.
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.
Recommended Story: 12b-1 Fees
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.