Equities analysts expect Manitowoc Company Inc (NYSE:MTW) to announce $0.52 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Manitowoc’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.55. Manitowoc reported earnings of $0.40 per share during the same quarter last year, which would indicate a positive year over year growth rate of 30%. The firm is expected to announce its next quarterly earnings results on Monday, August 5th.
On average, analysts expect that Manitowoc will report full year earnings of $1.39 per share for the current financial year, with EPS estimates ranging from $1.30 to $1.45. For the next year, analysts expect that the company will report earnings of $1.77 per share, with EPS estimates ranging from $1.65 to $2.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Manitowoc.
Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Thursday, May 9th. The industrial products company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. Manitowoc had a negative net margin of 4.46% and a positive return on equity of 4.78%. The company had revenue of $418.00 million during the quarter, compared to analyst estimates of $399.28 million. During the same period in the previous year, the business earned ($0.12) EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis.
Separately, ValuEngine lowered shares of Manitowoc from a “sell” rating to a “strong sell” rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $28.63.
NYSE MTW traded down $0.11 during mid-day trading on Wednesday, reaching $16.25. The stock had a trading volume of 333,747 shares, compared to its average volume of 480,477. Manitowoc has a 1 year low of $13.22 and a 1 year high of $28.54. The firm has a market cap of $579.44 million, a P/E ratio of 25.39 and a beta of 1.89. The company has a quick ratio of 0.78, a current ratio of 1.76 and a debt-to-equity ratio of 0.66.
In other news, CEO Barry Pennypacker sold 12,388 shares of the company’s stock in a transaction 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 in the company, valued at approximately $2,252,748.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aaron H. Ravenscroft sold 3,191 shares of the company’s stock in a transaction 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 owns 20,697 shares of the company’s stock, valued at $341,086.56. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Several large investors have recently bought and sold shares of MTW. Federated Investors Inc. PA boosted its holdings in Manitowoc by 73.6% in the 1st quarter. Federated Investors Inc. PA now owns 1,668 shares of the industrial products company’s stock worth $27,000 after buying an additional 707 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Manitowoc in the 4th quarter worth $28,000. DekaBank Deutsche Girozentrale bought a new position in Manitowoc in the 1st quarter worth $61,000. Bank of Montreal Can boosted its holdings in Manitowoc by 30.4% in the 4th quarter. Bank of Montreal Can now owns 2,864 shares of the industrial products company’s stock worth $42,000 after buying an additional 668 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in Manitowoc by 1,041.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,288 shares of the industrial products company’s stock worth $49,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 78.74% of the company’s stock.
Manitowoc Company Profile
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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