Brokerages Anticipate The Manitowoc Company, Inc. (NYSE:MTW) Will Announce Quarterly Sales of $372.88 Million

Equities analysts expect The Manitowoc Company, Inc. (NYSE:MTW) to post sales of $372.88 million for the current quarter, Zacks reports. Five analysts have provided estimates for The Manitowoc’s earnings. The lowest sales estimate is $344.70 million and the highest is $391.80 million. The Manitowoc reported sales of $328.30 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.6%. The business is expected to report its next earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that The Manitowoc will report full-year sales of $1.56 billion for the current financial year, with estimates ranging from $1.50 billion to $1.61 billion. For the next year, analysts anticipate that the business will report sales of $1.67 billion, with estimates ranging from $1.57 billion to $1.74 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow The Manitowoc.

The Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Wednesday, May 5th. The industrial products company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.07). The Manitowoc had a negative net margin of 0.79% and a negative return on equity of 1.02%. The company had revenue of $354.30 million for the quarter, compared to analysts’ expectations of $345.38 million.

A number of research analysts recently commented on MTW shares. Barclays reaffirmed an “underweight” rating and set a $16.00 price objective (down from $17.00) on shares of The Manitowoc in a research report on Tuesday, March 16th. Citigroup boosted their price objective on shares of The Manitowoc from $27.00 to $30.00 in a research report on Monday. Robert W. Baird upgraded shares of The Manitowoc from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $17.00 to $31.00 in a research note on Wednesday, March 17th. TheStreet upgraded shares of The Manitowoc from a “d+” rating to a “c-” rating in a research note on Tuesday, February 9th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of The Manitowoc from $27.00 to $30.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $20.50.

Several institutional investors have recently modified their holdings of MTW. Victory Capital Management Inc. acquired a new stake in shares of The Manitowoc in the first quarter worth $26,092,000. BlackRock Inc. lifted its stake in shares of The Manitowoc by 20.0% in the first quarter. BlackRock Inc. now owns 3,398,808 shares of the industrial products company’s stock worth $70,081,000 after buying an additional 566,985 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of The Manitowoc by 495.0% in the first quarter. Russell Investments Group Ltd. now owns 656,471 shares of the industrial products company’s stock worth $13,533,000 after buying an additional 546,146 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of The Manitowoc by 298.4% in the fourth quarter. JPMorgan Chase & Co. now owns 609,968 shares of the industrial products company’s stock worth $8,118,000 after buying an additional 456,876 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of The Manitowoc in the fourth quarter worth $4,348,000. Institutional investors and hedge funds own 70.93% of the company’s stock.

MTW traded up $0.22 on Friday, reaching $25.54. 205,425 shares of the company traded hands, compared to its average volume of 399,035. The stock’s 50 day moving average price is $22.26 and its 200-day moving average price is $15.97. The Manitowoc has a 52-week low of $7.36 and a 52-week high of $28.33. The company has a market cap of $887.13 million, a price-to-earnings ratio of -74.47, a PEG ratio of 3.36 and a beta of 2.26. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.96 and a quick ratio of 0.76.

The Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.

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