Manitowoc Company Inc (MTW) Expected to Announce Quarterly Sales of $396.92 Million
Wall Street analysts expect that Manitowoc Company Inc (NYSE:MTW) will report sales of $396.92 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Manitowoc’s earnings, with the lowest sales estimate coming in at $381.91 million and the highest estimate coming in at $409.30 million. Manitowoc reported sales of $386.10 million during the same quarter last year, which indicates a positive year over year growth rate of 2.8%. The firm is scheduled to issue its next earnings results on Monday, May 6th.
According to Zacks, analysts expect that Manitowoc will report full-year sales of $1.91 billion for the current fiscal year, with estimates ranging from $1.88 billion to $1.98 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.99 billion, with estimates ranging from $1.93 billion to $2.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Manitowoc.
Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, February 7th. The industrial products company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.11. Manitowoc had a negative net margin of 3.63% and a positive return on equity of 3.55%. The company had revenue of $515.30 million for the quarter, compared to analysts’ expectations of $488.02 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Manitowoc’s revenue for the quarter was up 7.0% compared to the same quarter last year.
NYSE MTW traded up $0.69 during trading hours on Thursday, reaching $18.39. The company had a trading volume of 587,855 shares, compared to its average volume of 285,521. The stock has a market capitalization of $655.59 million, a P/E ratio of 28.73 and a beta of 1.88. Manitowoc has a 1-year low of $13.22 and a 1-year high of $29.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.70 and a quick ratio of 0.78.
In related news, EVP Aaron H. Ravenscroft sold 3,191 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $16.48, for a total value of $52,587.68. Following the sale, the executive vice president now owns 20,697 shares of the company’s stock, valued at $341,086.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Barry Pennypacker sold 12,388 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $16.46, for a total transaction of $203,906.48. Following the completion of the sale, the chief executive officer now directly owns 136,862 shares in the company, valued at approximately $2,252,748.52. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in Manitowoc by 12.9% in the first quarter. Nisa Investment Advisors LLC now owns 8,725 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 1,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Manitowoc by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 376,811 shares of the industrial products company’s stock valued at $5,565,000 after acquiring an additional 21,106 shares in the last quarter. Norges Bank acquired a new stake in Manitowoc in the fourth quarter valued at approximately $389,000. Dimensional Fund Advisors LP raised its holdings in 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 valued at $42,707,000 after acquiring an additional 304,977 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Manitowoc by 12.1% in the fourth quarter. Legal & General Group Plc now owns 14,095 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 1,520 shares in the last quarter. 82.39% of the stock is currently 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.
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