Manitowoc Company, Inc. (The) (NYSE:MTW) – Stock analysts at Jefferies Group reduced their Q3 2017 earnings estimates for Manitowoc Company, Inc. (The) in a research report issued on Thursday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of ($0.05) per share for the quarter, down from their prior forecast of ($0.02). Jefferies Group has a “Buy” rating and a $10.50 price target on the stock.

Manitowoc Company, Inc. (The) (NYSE:MTW) last released its earnings results on Monday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. Manitowoc Company, Inc. (The) had a negative return on equity of 14.85% and a negative net margin of 14.63%. The business had revenue of $394.60 million during the quarter, compared to analysts’ expectations of $396.44 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was down 13.8% on a year-over-year basis.

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A number of other research firms also recently weighed in on MTW. BidaskClub downgraded Manitowoc Company, Inc. (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reiterated a “hold” rating and set a $6.50 target price on shares of Manitowoc Company, Inc. (The) in a report on Thursday, June 22nd. Deutsche Bank AG reiterated a “hold” rating and set a $6.25 target price on shares of Manitowoc Company, Inc. (The) in a report on Tuesday, July 4th. ValuEngine upgraded Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Monday, September 11th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Manitowoc Company, Inc. (The) presently has an average rating of “Hold” and an average target price of $7.44.

Shares of Manitowoc Company, Inc. (NYSE MTW) opened at 9.93 on Monday. The company’s 50-day moving average price is $8.31 and its 200 day moving average price is $6.60. Manitowoc Company, Inc. has a 1-year low of $3.65 and a 1-year high of $9.97. The firm’s market cap is $1.40 billion.

Several institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC grew its stake in shares of Manitowoc Company, Inc. (The) by 25.0% in the 2nd quarter. Verition Fund Management LLC now owns 36,488 shares of the industrial products company’s stock worth $219,000 after buying an additional 7,294 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Manitowoc Company, Inc. (The) by 5.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,071,572 shares of the industrial products company’s stock worth $6,441,000 after buying an additional 51,175 shares during the last quarter. JHL Capital Group LLC grew its stake in shares of Manitowoc Company, Inc. (The) by 100.0% in the 2nd quarter. JHL Capital Group LLC now owns 1,500,000 shares of the industrial products company’s stock worth $9,015,000 after buying an additional 750,000 shares during the last quarter. Southpoint Capital Advisors LP grew its stake in shares of Manitowoc Company, Inc. (The) by 29.2% in the 2nd quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock worth $46,578,000 after buying an additional 1,750,000 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Manitowoc Company, Inc. (The) by 6.4% in the 2nd quarter. State Street Corp now owns 2,483,741 shares of the industrial products company’s stock worth $14,926,000 after buying an additional 150,097 shares during the last quarter. Institutional investors own 80.98% of the company’s stock.

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.

Earnings History and Estimates for Manitowoc Company, Inc. (The) (NYSE:MTW)

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