Manitowoc Company Inc (NYSE:MTW) – Investment analysts at SunTrust Banks raised their FY2018 EPS estimates for Manitowoc in a research note issued to investors on Tuesday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will earn $0.36 per share for the year, up from their prior estimate of $0.32. SunTrust Banks has a “Hold” rating and a $37.00 price target on the stock. SunTrust Banks also issued estimates for Manitowoc’s FY2019 earnings at $1.44 EPS.
A number of other equities analysts have also recently weighed in on MTW. Jefferies Group reissued a “buy” rating and set a $38.00 price target on shares of Manitowoc in a research report on Thursday, September 21st. Deutsche Bank reissued a “hold” rating and set a $32.28 price target (up from $31.40) on shares of Manitowoc in a research report on Monday, October 9th. Zacks Investment Research cut shares of Manitowoc from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Citigroup lifted their price target on shares of Manitowoc from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Finally, Royal Bank of Canada raised shares of Manitowoc from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $30.00 to $48.00 in a research report on Wednesday, November 1st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.64.
Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.44. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The firm had revenue of $399.40 million for the quarter, compared to analysts’ expectations of $385.01 million. During the same period last year, the firm earned ($1.12) earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis.
In other news, Director Charles David Myers acquired 3,854 shares of Manitowoc stock in a transaction dated Wednesday, November 29th. The shares were bought at an average cost of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.82% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in MTW. Cipher Capital LP bought a new position in shares of Manitowoc in the third quarter valued at $109,000. BNP Paribas Arbitrage SA raised its holdings in shares of Manitowoc 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 purchasing an additional 16,065 shares during the last quarter. Invictus RG purchased a new stake in shares of Manitowoc in the third quarter valued at about $124,000. Advisor Group Inc. raised its holdings in shares of Manitowoc 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 purchasing an additional 572 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Manitowoc by 14.2% in 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 last quarter.
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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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