Earnings Preview: Manitowoc Co.

Manitowoc Co. (MTW) is expected to report Q3 earnings Tuesday after the close with a conference call scheduled for Wednesday at 10:00 am.

Guidance

Analysts are looking for EPS of 81c on revenue of $1.26B. The consensus range for EPS is 79c to 86c, while the consensus range for revenue is $1.2B to $1.31B, according to First Call.

Manitowoc narrowed its FY08 EPS guidance when it reported Q2 earnings to $3.30 to $3.40 from $3.20 to $3.40 versus consensus $3.44.

Analyst Views

The company was downgraded to Hold from Buy at Sterne Agee in August. The firm downgraded shares as it believes the company's recent asset portfolio changes will not create any near-term value for shareholders. The firm also lowered its target for the company to $20 from $34. However, in October Manitowoc was upgraded to Buy from Hold at Gabelli. The firm upgraded shares on valuation following recent weakness.

Comments

[Calamity Jane:]

I have never lost faith in Manitowoc. If this economy ever gets turned around, Manitowoc will thrive. I have stocks with them and needless to say, I will be happy if they ever go up.

2008 Oct 28 11:58 PM