FY2019 EPS Estimates for The Manitowoc Company, Inc. (MTW) Increased by Seaport Global Securities
The Manitowoc Company, Inc. (NYSE:MTW) – Analysts at Seaport Global Securities upped their FY2019 EPS estimates for The Manitowoc in a research report issued on Wednesday. Seaport Global Securities analyst M. Shlisky now forecasts that the industrial products company will earn $0.20 per share for the year, up from their previous forecast of $0.19.
Several other research firms have also weighed in on MTW. BidaskClub lowered shares of The Manitowoc from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $7.00 target price on shares of The Manitowoc in a report on Friday, October 27th. Stifel Nicolaus increased their price objective on shares of The Manitowoc from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Group LLC reissued a “buy” rating on shares of The Manitowoc in a research report on Friday. Finally, Citigroup Inc. increased their price objective on shares of The Manitowoc from $8.50 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The Manitowoc presently has an average rating of “Hold” and an average price target of $8.97.
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The Manitowoc (MTW) traded up $0.08 on Friday, reaching $9.94. 955,064 shares of the company’s stock traded hands, compared to its average volume of 1,656,165. The company has a current ratio of 1.76, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. The Manitowoc has a 12 month low of $4.82 and a 12 month high of $10.53.
The Manitowoc (NYSE:MTW) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.11. The company had revenue of $399.40 million for the quarter, compared to analyst estimates of $385.01 million. The Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the business posted ($0.28) earnings per share.
Institutional investors have recently added to or reduced their stakes in the stock. Annex Advisory Services LLC grew its position in The Manitowoc 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 purchasing an additional 3,158 shares in the last quarter. Cipher Capital LP bought a new position in The Manitowoc in the third quarter valued at $109,000. BNP Paribas Arbitrage SA grew its position in The 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 in the last quarter. JPMorgan Chase & Co. grew its position in The Manitowoc 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 purchasing an additional 20,056 shares in the last quarter. Finally, Leavell Investment Management Inc. grew its position in The Manitowoc by 9.4% in the second quarter. Leavell Investment Management Inc. now owns 23,405 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 2,019 shares in the last quarter. 80.53% of the stock is owned by institutional investors and hedge funds.
About The Manitowoc
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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