Manitowoc Company Inc (NYSE:MTW) – Equities researchers at Jefferies Financial Group upped their FY2018 earnings per share (EPS) estimates for shares of Manitowoc in a research report issued to clients and investors on Tuesday, November 6th. Jefferies Financial Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $0.60 per share for the year, up from their previous forecast of $0.45. Jefferies Financial Group also issued estimates for Manitowoc’s FY2019 earnings at $1.45 EPS and FY2020 earnings at $2.10 EPS.
Manitowoc (NYSE:MTW) last announced its earnings results on Monday, November 5th. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.12. The business had revenue of $450.10 million during the quarter, compared to analyst estimates of $452.64 million. Manitowoc had a net margin of 2.56% and a return on equity of 1.80%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS.
A number of other equities research analysts have also weighed in on MTW. Seaport Global Securities set a $31.00 target price on shares of Manitowoc and gave the company a “buy” rating in a research note on Wednesday, August 8th. ValuEngine lowered shares of Manitowoc from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Royal Bank of Canada decreased their target price on shares of Manitowoc to $35.00 and set an “outperform” rating for the company in a research note on Wednesday. They noted that the move was a valuation call. Citigroup decreased their target price on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, August 8th. Finally, Macquarie boosted their target price on shares of Manitowoc from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.50.
Shares of MTW opened at $19.12 on Friday. The firm has a market cap of $716.70 million, a price-to-earnings ratio of -73.54 and a beta of 1.62. The company has a quick ratio of 0.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.39. Manitowoc has a 1-year low of $16.74 and a 1-year high of $44.03.
Several large investors have recently bought and sold shares of MTW. LPL Financial LLC increased its stake in shares of Manitowoc by 19.4% in the 1st quarter. LPL Financial LLC now owns 16,892 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 2,739 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Manitowoc by 7.7% in the 1st quarter. Royal Bank of Canada now owns 33,024 shares of the industrial products company’s stock worth $940,000 after purchasing an additional 2,367 shares in the last quarter. Columbia Partners L L C Investment Management increased its stake in shares of Manitowoc by 100.0% in the 2nd quarter. Columbia Partners L L C Investment Management now owns 31,524 shares of the industrial products company’s stock worth $815,000 after purchasing an additional 15,762 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Manitowoc in the 2nd quarter worth $291,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Manitowoc by 68.2% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,201 shares of the industrial products company’s stock worth $600,000 after purchasing an additional 9,410 shares in the last quarter. Hedge funds and other institutional investors own 79.78% of the company’s stock.
Manitowoc Company Profile
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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