Manitowoc Company Inc (NYSE:MTW) – Equities researchers at Jefferies Financial Group raised their FY2019 EPS estimates for shares of Manitowoc in a note issued to investors on Sunday, November 10th. Jefferies Financial Group analyst S. Volkmann now forecasts that the industrial products company will earn $1.81 per share for the year, up from their prior forecast of $1.60. Jefferies Financial Group also issued estimates for Manitowoc’s Q4 2019 earnings at $0.25 EPS, Q4 2020 earnings at $0.45 EPS and FY2021 earnings at $1.95 EPS.
MTW has been the subject of several other reports. Citigroup lowered shares of Manitowoc from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $16.00 to $10.00 in a research note on Tuesday, October 15th. Dougherty & Co began coverage on shares of Manitowoc in a research note on Wednesday, August 28th. They set a “neutral” rating for the company. Shore Capital reaffirmed a “buy” rating on shares of Manitowoc in a research note on Monday, October 21st. OTR Global lowered shares of Manitowoc from a “mixed” rating to a “negative” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $20.00 price objective on shares of Manitowoc in a research note on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Manitowoc presently has a consensus rating of “Hold” and an average price target of $16.83.
NYSE MTW opened at $15.90 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 1.78 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $12.56 and a two-hundred day moving average of $14.95. The firm has a market capitalization of $570.20 million, a price-to-earnings ratio of 24.84, a PEG ratio of 0.95 and a beta of 2.16. Manitowoc has a 52 week low of $10.49 and a 52 week high of $20.09.
Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.20. The firm had revenue of $448.00 million during the quarter, compared to analyst estimates of $455.27 million. Manitowoc had a negative net margin of 2.17% and a positive return on equity of 10.22%. Manitowoc’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of MTW. Golden State Wealth Management LLC purchased a new stake in shares of Manitowoc during the third quarter valued at $29,000. Tower Research Capital LLC TRC boosted its stake in shares of Manitowoc by 513.2% during the third quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 4,193 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Manitowoc by 20.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,695 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 800 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Manitowoc by 264.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 9,593 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 6,961 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Manitowoc by 104.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,905 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 5,056 shares during the period. 78.67% of the stock is owned by institutional investors.
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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