Wall Street analysts forecast that Manitowoc Company, Inc. (The) (NYSE:MTW) will post sales of $401.16 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Manitowoc Company, Inc. (The)’s earnings, with the lowest sales estimate coming in at $367.52 million and the highest estimate coming in at $425.00 million. Manitowoc Company, Inc. (The) posted sales of $457.70 million during the same quarter last year, which suggests a negative year over year growth rate of 12.4%. The business is expected to announce its next earnings report on Monday, August 14th.

According to Zacks, analysts expect that Manitowoc Company, Inc. (The) will report full year sales of $401.16 million for the current financial year, with estimates ranging from $1.41 billion to $1.48 billion. For the next financial year, analysts anticipate that the business will report sales of $1.52 billion per share, with estimates ranging from $1.45 billion to $1.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Manitowoc Company, Inc. (The).

Manitowoc Company, Inc. (The) (NYSE:MTW) last released its earnings results on Monday, May 8th. The industrial products company reported ($0.17) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.17). The business had revenue of $305.80 million during the quarter, compared to analyst estimates of $336.85 million. Manitowoc Company, Inc. (The) had a negative net margin of 14.37% and a negative return on equity of 14.18%. The company’s revenue for the quarter was down 28.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share.

MTW has been the subject of a number of recent research reports. Jefferies Group LLC reiterated a “buy” rating on shares of Manitowoc Company, Inc. (The) in a research report on Tuesday, April 11th. Royal Bank Of Canada reiterated a “hold” rating and set a $5.50 price objective on shares of Manitowoc Company, Inc. (The) in a research report on Friday, March 24th. Zacks Investment Research cut Manitowoc Company, Inc. (The) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 21st. OTR Global upgraded Manitowoc Company, Inc. (The) to a “positive” rating in a research report on Friday, March 17th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $6.25 price objective (up previously from $6.20) on shares of Manitowoc Company, Inc. (The) in a research report on Thursday, April 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.59.

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in Manitowoc Company, Inc. (The) by 1.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,085 shares of the industrial products company’s stock valued at $234,000 after buying an additional 406 shares during the period. Bank of America Corp DE boosted its stake in Manitowoc Company, Inc. (The) by 1.6% in the first quarter. Bank of America Corp DE now owns 90,840 shares of the industrial products company’s stock valued at $518,000 after buying an additional 1,391 shares during the period. Nationwide Fund Advisors boosted its stake in Manitowoc Company, Inc. (The) by 1.7% in the first quarter. Nationwide Fund Advisors now owns 104,384 shares of the industrial products company’s stock valued at $595,000 after buying an additional 1,783 shares during the period. Ameriprise Financial Inc. boosted its stake in Manitowoc Company, Inc. (The) by 8.7% in the first quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock valued at $150,000 after buying an additional 2,117 shares during the period. Finally, Philadelphia Trust Co. boosted its stake in Manitowoc Company, Inc. (The) by 15.9% in the fourth quarter. Philadelphia Trust Co. now owns 17,090 shares of the industrial products company’s stock valued at $102,000 after buying an additional 2,340 shares during the period. Institutional investors own 79.10% of the company’s stock.

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Shares of Manitowoc Company, Inc. (MTW) remained flat at $5.78 on Friday. 773,672 shares of the stock traded hands. The stock’s market cap is $812.31 million. Manitowoc Company, Inc. has a 12 month low of $3.65 and a 12 month high of $7.57. The stock’s 50 day moving average is $5.88 and its 200 day moving average is $6.01.

Manitowoc Company, Inc. (The) 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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Earnings History and Estimates for Manitowoc Company, Inc. (The) (NYSE:MTW)

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