Manitowoc Company Inc (MTW) Forecasted to Post Q1 2018 Earnings of ($0.17) Per Share

Manitowoc Company Inc (NYSE:MTW) – Stock analysts at Seaport Global Securities reduced their Q1 2018 earnings per share estimates for shares of Manitowoc in a research note issued on Monday. Seaport Global Securities analyst M. Shlisky now forecasts that the industrial products company will post earnings of ($0.17) per share for the quarter, down from their previous estimate of $0.12. Seaport Global Securities has a “Buy” rating and a $48.00 price objective on the stock. Seaport Global Securities also issued estimates for Manitowoc’s Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.50 EPS and FY2019 earnings at $1.51 EPS.

MTW has been the topic of several other reports. SunTrust Banks reaffirmed a “hold” rating and set a $28.00 price target on shares of Manitowoc in a research note on Friday, October 27th. Jefferies Group reissued a “buy” rating on shares of Manitowoc in a research report on Friday, November 10th. Royal Bank of Canada raised shares of Manitowoc from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $30.00 to $48.00 in a research report on Wednesday, November 1st. Zacks Investment Research cut shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, Robert W. Baird reissued a “buy” rating and issued a $47.00 target price on shares of Manitowoc in a research report on Friday, November 24th. One equities research 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’s stock. The stock has an average rating of “Hold” and a consensus price target of $39.92.

Shares of Manitowoc (NYSE:MTW) opened at $35.27 on Wednesday. Manitowoc has a 12 month low of $21.00 and a 12 month high of $44.03. The stock has a market cap of $1,227.56, a PE ratio of 167.95 and a beta of 1.35. The company has a current ratio of 1.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.44.

Manitowoc (NYSE:MTW) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a return on equity of 21.88% and a net margin of 7.39%. The firm had revenue of $481.50 million for the quarter, compared to analyst estimates of $423.27 million. During the same period in the prior year, the business earned ($0.24) earnings per share. Manitowoc’s revenue for the quarter was up 27.3% on a year-over-year basis.

Several institutional investors and hedge funds have recently bought and sold shares of MTW. Cipher Capital LP purchased a new stake in shares of Manitowoc during the third quarter valued at approximately $109,000. Invictus RG purchased a new stake in shares of Manitowoc during the third quarter valued at approximately $124,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Manitowoc during the fourth quarter valued at approximately $129,000. Advisor Group Inc. raised its stake in shares of Manitowoc 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 during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Manitowoc by 14.2% during the second quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 3,733 shares during the period.

In other news, Director Charles David Myers acquired 3,854 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were bought at an average price of $39.12 per share, for a total transaction of $150,768.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Thomas G. Musial sold 4,476 shares of Manitowoc stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $33.84, for a total transaction of $151,467.84. Following the sale, the senior vice president now owns 54,319 shares in the company, valued at approximately $1,838,154.96. The disclosure for this sale can be found here. Company insiders own 2.82% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Manitowoc Company Inc (MTW) Forecasted to Post Q1 2018 Earnings of ($0.17) Per Share” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was stolen and republished in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/16/manitowoc-company-inc-mtw-forecasted-to-post-q1-2018-earnings-of-0-17-per-share.html.

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.

Earnings History and Estimates for Manitowoc (NYSE:MTW)

Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply