FY2018 Earnings Forecast for Manitowoc Company Inc Issued By SunTrust Banks (MTW)
Manitowoc Company Inc (NYSE:MTW) – Research analysts at SunTrust Banks upped their FY2018 earnings per share estimates for shares of Manitowoc in a research note issued 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 previous estimate of $0.32. SunTrust Banks currently has a “Hold” rating and a $37.00 target price on the stock. SunTrust Banks also issued estimates for Manitowoc’s FY2019 earnings at $1.44 EPS.
Other equities research analysts also recently issued research reports about the company. Jefferies Group reissued a “buy” rating and issued a $38.00 price objective on shares of Manitowoc in a report on Thursday, September 21st. Stifel Nicolaus increased their price target on Manitowoc from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Deutsche Bank restated a “hold” rating and issued a $32.28 price target (up previously from $31.40) on shares of Manitowoc in a research note on Monday, October 9th. Barclays started coverage on Manitowoc in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, Robert W. Baird restated a “buy” rating and issued a $47.00 price target on shares of Manitowoc in a research note on Friday, November 24th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $39.64.
Manitowoc (NYSE:MTW) traded up $1.21 during midday trading on Thursday, hitting $40.21. The stock had a trading volume of 881,900 shares, compared to its average volume of 494,737. The firm has a market cap of $1,410.00, a P/E ratio of -29.35 and a beta of 1.56. 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 has a 12 month low of $21.00 and a 12 month high of $42.12.
Manitowoc (NYSE:MTW) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.44. The company had revenue of $399.40 million during the quarter, compared to the consensus estimate of $385.01 million. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.12) EPS.
Hedge funds have recently bought and sold shares of the business. Cipher Capital LP bought a new position in Manitowoc during the 3rd quarter worth $109,000. Invictus RG bought a new position in Manitowoc during the 3rd quarter worth $124,000. BNP Paribas Arbitrage SA increased its position in Manitowoc by 646.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,552 shares of the industrial products company’s stock worth $111,000 after buying an additional 16,065 shares during the period. Advisor Group Inc. increased its position in Manitowoc by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock worth $145,000 after buying an additional 572 shares during the period. Finally, SG Americas Securities LLC bought a new position in Manitowoc during the 3rd quarter worth $225,000.
In other Manitowoc news, Director Charles David Myers purchased 3,854 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average price of $39.12 per share, for a total transaction of $150,768.48. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.82% of the stock is currently owned by corporate insiders.
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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