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.
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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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