Brokerages expect that Manitowoc Company Inc (NYSE:MTW) will post earnings of $0.05 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Manitowoc’s earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at $0.12. Manitowoc posted earnings of ($0.15) per share during the same quarter last year, which would indicate a positive year over year growth rate of 133.3%. The firm is expected to issue its next earnings report on Thursday, February 14th.
On average, analysts expect that Manitowoc will report full year earnings of $0.54 per share for the current fiscal year, with EPS estimates ranging from $0.43 to $0.60. For the next year, analysts anticipate that the firm will post earnings of $1.32 per share, with EPS estimates ranging from $1.21 to $1.45. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Manitowoc.
Manitowoc (NYSE:MTW) last released its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.12. Manitowoc had a net margin of 2.56% and a return on equity of 1.80%. The business had revenue of $450.10 million during the quarter, compared to analyst estimates of $452.64 million. During the same quarter in the previous year, the business earned $0.37 EPS. Manitowoc’s quarterly revenue was up 12.7% compared to the same quarter last year.
Several research firms have recently issued reports on MTW. Zacks Investment Research downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. TheStreet downgraded shares of Manitowoc from a “c” rating to a “d+” rating in a report on Monday, November 26th. Royal Bank of Canada dropped their price objective on shares of Manitowoc to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, November 7th. They noted that the move was a valuation call. Finally, Robert W. Baird upgraded shares of Manitowoc from a “neutral” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Thursday, September 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Manitowoc has an average rating of “Hold” and a consensus price target of $29.33.
Manitowoc stock traded down $0.29 on Monday, reaching $15.62. 15,379 shares of the stock were exchanged, compared to its average volume of 699,938. The firm has a market cap of $570.44 million, a price-to-earnings ratio of -60.04 and a beta of 1.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.75 and a quick ratio of 0.69. Manitowoc has a twelve month low of $13.22 and a twelve month high of $44.03.
A number of hedge funds and other institutional investors have recently bought and sold shares of MTW. Quantum Capital Management bought a new stake in Manitowoc in the third quarter valued at about $207,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Manitowoc during the third quarter worth about $215,000. Gamco Investors INC. ET AL bought a new stake in Manitowoc during the third quarter worth about $256,000. First Trust Advisors LP bought a new stake in Manitowoc during the second quarter worth about $346,000. Finally, PNC Financial Services Group Inc. grew its stake in Manitowoc by 476.5% during the second quarter. PNC Financial Services Group Inc. now owns 14,187 shares of the industrial products company’s stock worth $366,000 after buying an additional 11,726 shares during the last quarter. 82.75% of the stock is currently owned by institutional investors and hedge funds.
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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