Manitowoc Company Inc (MTW) Expected to Announce Quarterly Sales of $423.19 Million
Equities analysts predict that Manitowoc Company Inc (NYSE:MTW) will report $423.19 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Manitowoc’s earnings, with estimates ranging from $404.70 million to $446.04 million. Manitowoc posted sales of $378.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.9%. The company is scheduled to announce its next earnings report after the market closes on Thursday, February 8th.
According to Zacks, analysts expect that Manitowoc will report full year sales of $423.19 million for the current year, with estimates ranging from $1.50 billion to $1.55 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.62 billion per share, with estimates ranging from $1.55 billion to $1.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Manitowoc.
Manitowoc (NYSE:MTW) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.44. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The business had revenue of $399.40 million during the quarter, compared to analysts’ expectations of $385.01 million. During the same quarter last year, the business posted ($1.12) EPS. The business’s revenue was up 14.2% on a year-over-year basis.
In other news, Director Charles David Myers bought 3,854 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was purchased at an average price of $39.12 per share, with a total value of $150,768.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.82% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its position in shares of Manitowoc by 2.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 580,385 shares of the industrial products company’s stock worth $5,224,000 after acquiring an additional 12,221 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Manitowoc by 343.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 133,340 shares of the industrial products company’s stock worth $1,200,000 after acquiring an additional 103,289 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Manitowoc by 17.1% in the 2nd quarter. Wells Fargo & Company MN now owns 151,840 shares of the industrial products company’s stock worth $912,000 after acquiring an additional 22,133 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Manitowoc by 46.4% in the 3rd quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 10,050 shares in the last quarter. Finally, Van Den Berg Management I Inc. raised its position in shares of Manitowoc by 18.4% in the 3rd quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock worth $16,109,000 after acquiring an additional 278,220 shares in the last quarter.
Manitowoc (NYSE:MTW) traded down $2.64 during midday trading on Tuesday, reaching $37.41. The company’s stock had a trading volume of 722,301 shares, compared to its average volume of 586,926. Manitowoc has a 1-year low of $21.00 and a 1-year high of $44.03. The company has a current ratio of 1.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1,410.16 and a PE ratio of -21.75.
Manitowoc Company Profile
The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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