Equities analysts expect Manitowoc Company Inc (NYSE:MTW) to announce earnings per share (EPS) of $0.12 for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Manitowoc’s earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at $0.23. Manitowoc reported earnings of $0.36 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 66.7%. The firm is scheduled to report its next earnings results on Monday, November 5th.
On average, analysts expect that Manitowoc will report full year earnings of $0.56 per share for the current year, with EPS estimates ranging from $0.45 to $0.75. For the next financial year, analysts anticipate that the firm will post earnings of $1.50 per share, with EPS estimates ranging from $1.22 to $1.75. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Manitowoc.
Manitowoc (NYSE:MTW) last released its earnings results on Monday, August 6th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.17. Manitowoc had a return on equity of 2.77% and a net margin of 2.53%. The firm had revenue of $495.30 million for the quarter, compared to the consensus estimate of $458.03 million. During the same period in the prior year, the firm earned $0.20 EPS. The firm’s revenue was up 25.5% on a year-over-year basis.
Several equities research analysts have commented on the stock. Seaport Global Securities reaffirmed a “buy” rating on shares of Manitowoc in a report on Wednesday, April 18th. Barclays reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Manitowoc in a research note on Thursday, April 19th. Zacks Investment Research cut shares of Manitowoc from a “hold” rating to a “strong sell” rating in a research note on Monday, April 16th. Goldman Sachs Group cut shares of Manitowoc from a “neutral” rating to a “sell” rating in a research note on Monday, July 16th. Finally, ValuEngine raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Manitowoc has a consensus rating of “Hold” and an average target price of $31.85.
In other news, CEO Barry Pennypacker bought 19,600 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was bought at an average cost of $25.19 per share, for a total transaction of $493,724.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.82% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MTW. Global X Management Co. LLC bought a new stake in shares of Manitowoc during the first quarter valued at approximately $205,000. Private Advisor Group LLC acquired a new position in Manitowoc during the second quarter worth approximately $269,000. Fox Run Management L.L.C. acquired a new position in Manitowoc during the second quarter worth approximately $291,000. Virginia Retirement Systems ET AL acquired a new position in Manitowoc during the first quarter worth approximately $353,000. Finally, First Trust Advisors LP acquired a new position in Manitowoc during the second quarter worth approximately $346,000. Institutional investors own 79.61% of the company’s stock.
NYSE:MTW traded down $0.57 during mid-day trading on Friday, hitting $22.93. The company’s stock had a trading volume of 364,498 shares, compared to its average volume of 532,886. Manitowoc has a 1 year low of $22.75 and a 1 year high of $44.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.72 and a current ratio of 1.65. The firm has a market cap of $835.11 million, a price-to-earnings ratio of -88.19 and a beta of 1.40.
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 the National Crane brand.
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