Analysts Anticipate Manitowoc Company Inc (MTW) to Announce -$0.20 EPS

Analysts expect Manitowoc Company Inc (NYSE:MTW) to report ($0.13) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Manitowoc’s earnings, with estimates ranging from ($0.39) to $0.12. Manitowoc posted earnings per share of ($0.68) in the same quarter last year, which indicates a positive year-over-year growth rate of 80.9%. The company is scheduled to report its next quarterly earnings report on Monday, May 14th.

According to Zacks, analysts expect that Manitowoc will report full year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.11 to $1.20. For the next fiscal year, analysts forecast that the business will post earnings of $1.37 per share, with EPS estimates ranging from $0.80 to $2.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Manitowoc.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a net margin of 0.59% and a negative return on equity of 1.59%. The company had revenue of $481.50 million during the quarter, compared to analysts’ expectations of $423.27 million. During the same quarter in the prior year, the business posted ($0.24) earnings per share. The company’s revenue was up 27.3% compared to the same quarter last year.

A number of research analysts have recently issued reports on the company. Deutsche Bank cut their price target on Manitowoc from $44.00 to $36.00 and set a “hold” rating on the stock in a report on Monday. Stifel Nicolaus cut their price target on Manitowoc from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. downgraded Manitowoc from a “neutral” rating to an “underweight” rating and cut their price target for the company from $30.00 to $29.00 in a report on Monday. Barclays assumed coverage on Manitowoc in a report on Tuesday, December 12th. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, Robert W. Baird reiterated a “buy” rating and issued a $47.00 price target on shares of Manitowoc in a report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.92.

In other Manitowoc news, Director Charles David Myers bought 3,854 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average cost of $39.12 per share, for a total transaction of $150,768.48. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.82% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in MTW. Schwab Charles Investment Management Inc. grew its stake in Manitowoc by 7.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 568,164 shares of the industrial products company’s stock worth $3,415,000 after buying an additional 37,782 shares during the last quarter. Wells Fargo & Company MN grew its stake in Manitowoc by 17.1% during the 2nd quarter. Wells Fargo & Company MN now owns 151,840 shares of the industrial products company’s stock worth $912,000 after buying an additional 22,133 shares during the last quarter. Alliancebernstein L.P. lifted its position in Manitowoc by 27.2% during the 2nd quarter. Alliancebernstein L.P. now owns 260,583 shares of the industrial products company’s stock worth $1,566,000 after acquiring an additional 55,663 shares during the period. Ameriprise Financial Inc. lifted its position in Manitowoc by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock worth $180,000 after acquiring an additional 3,733 shares during the period. Finally, Nationwide Fund Advisors lifted its position in Manitowoc by 1.8% during the 2nd quarter. Nationwide Fund Advisors now owns 106,310 shares of the industrial products company’s stock worth $639,000 after acquiring an additional 1,926 shares during the period.

Manitowoc (NYSE:MTW) opened at $33.95 on Wednesday. Manitowoc has a fifty-two week low of $21.00 and a fifty-two week high of $44.03. The stock has a market capitalization of $1,203.28, a price-to-earnings ratio of 161.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.76 and a quick ratio of 0.67.

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Manitowoc 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 (NYSE:MTW)

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