Wall Street brokerages forecast that Manitowoc Company, Inc. (The) (NYSE:MTW) will report $382.98 million in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Manitowoc Company, Inc. (The)’s earnings, with the highest sales estimate coming in at $398.80 million and the lowest estimate coming in at $372.17 million. Manitowoc Company, Inc. (The) posted sales of $349.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The company is expected to report its next earnings results on Tuesday, November 7th.

On average, analysts expect that Manitowoc Company, Inc. (The) will report full year sales of $382.98 million for the current year, with estimates ranging from $1.49 billion to $1.52 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.60 billion per share, with estimates ranging from $1.52 billion to $1.69 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Manitowoc Company, Inc. (The).

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $394.60 million during the quarter, compared to the consensus estimate of $396.44 million. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS.

Several analysts recently commented on the company. Zacks Investment Research lowered Manitowoc Company, Inc. (The) from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank AG reaffirmed a “hold” rating and issued a $8.07 price objective (up previously from $7.85) on shares of Manitowoc Company, Inc. (The) in a report on Monday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $10.50 price objective on shares of Manitowoc Company, Inc. (The) in a report on Friday, October 6th. J P Morgan Chase & Co raised Manitowoc Company, Inc. (The) from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.00 to $7.00 in a report on Thursday, August 17th. Finally, BidaskClub raised Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $7.81.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Annex Advisory Services LLC lifted its position in Manitowoc Company, Inc. (The) by 22.3% during the second quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 3,158 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Manitowoc Company, Inc. (The) by 646.0% during the second quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 16,065 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Manitowoc Company, Inc. (The) by 704.5% during the first quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 20,056 shares in the last quarter. Leavell Investment Management Inc. lifted its position in Manitowoc Company, Inc. (The) by 9.4% during the second quarter. Leavell Investment Management Inc. now owns 23,405 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in Manitowoc Company, Inc. (The) by 2.4% during the second quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 572 shares in the last quarter. Institutional investors own 80.98% of the company’s stock.

Manitowoc Company, Inc. (NYSE:MTW) opened at 9.27 on Friday. The firm has a 50-day moving average price of $8.48 and a 200-day moving average price of $6.70. The company’s market cap is $1.30 billion. Manitowoc Company, Inc. has a 52 week low of $3.65 and a 52 week high of $9.97.

About Manitowoc Company, Inc. (The)

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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