Manitowoc Company, Inc. (The) (NYSE:MTW) - Jefferies Group lifted their Q3 2017 earnings per share estimates for Manitowoc Company, Inc. (The) in a report released on Tuesday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will post earnings of ($0.02) per share for the quarter, up from their previous estimate of ($0.10). Jefferies Group currently has a “Buy” rating and a $9.50 price target on the stock. Jefferies Group also issued estimates for Manitowoc Company, Inc. (The)’s Q4 2017 earnings at $0.02 EPS and FY2017 earnings at ($0.15) EPS.
Several other brokerages have also recently weighed in on MTW. UBS AG reiterated a “neutral” rating and issued a $8.00 price objective (up previously from $6.00) on shares of Manitowoc Company, Inc. (The) in a research note on Thursday. ValuEngine upgraded shares of Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a research note on Thursday. Deutsche Bank AG increased their price objective on shares of Manitowoc Company, Inc. (The) from $5.81 to $7.85 and gave the stock a “hold” rating in a research note on Wednesday. Credit Suisse Group increased their price objective on shares of Manitowoc Company, Inc. (The) from $6.10 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, TheStreet upgraded shares of Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Manitowoc Company, Inc. (The) presently has an average rating of “Hold” and a consensus price target of $6.99.
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Manitowoc Company, Inc. (NYSE MTW) opened at 7.93 on Friday. Manitowoc Company, Inc. has a 1-year low of $3.65 and a 1-year high of $8.40. The stock’s market cap is $1.11 billion. The stock has a 50 day moving average of $6.20 and a 200 day moving average of $6.07.
Manitowoc Company, Inc. (The) (NYSE:MTW) last posted its earnings results on Monday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. The firm had revenue of $394.60 million during the quarter, compared to the consensus estimate of $396.44 million. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. The company’s revenue was down 13.8% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share.
A number of large investors have recently added to or reduced their stakes in the company. Annex Advisory Services LLC raised its stake in Manitowoc Company, Inc. (The) by 22.3% in the second quarter. Annex Advisory Services LLC now owns 17,328 shares of the industrial products company’s stock valued at $104,000 after buying an additional 3,158 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Manitowoc Company, Inc. (The) by 646.0% in the second quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock valued at $111,000 after buying an additional 16,065 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Manitowoc Company, Inc. (The) by 37.3% in the first quarter. Leavell Investment Management Inc. now owns 21,386 shares of the industrial products company’s stock valued at $122,000 after buying an additional 5,805 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Manitowoc Company, Inc. (The) by 704.5% in the first quarter. JPMorgan Chase & Co. now owns 22,903 shares of the industrial products company’s stock valued at $130,000 after buying an additional 20,056 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in Manitowoc Company, Inc. (The) by 2.4% in the second quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after buying an additional 572 shares in the last quarter. 79.25% of the stock is owned by institutional investors.
Manitowoc Company, Inc. (The) 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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