Manitowoc Company, Inc. (The) (MTW) Forecasted to Earn FY2017 Earnings of ($0.07) Per Share

Manitowoc Company, Inc. (The) (NYSE:MTW) – Equities research analysts at Seaport Global Securities lifted their FY2017 earnings estimates for shares of Manitowoc Company, Inc. (The) in a report released on Wednesday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will post earnings per share of ($0.07) for the year, up from their prior estimate of ($0.15). Seaport Global Securities also issued estimates for Manitowoc Company, Inc. (The)’s Q4 2017 earnings at ($0.04) EPS, Q3 2018 earnings at $0.02 EPS and FY2018 earnings at $0.08 EPS.

MTW has been the topic of several other reports. Robert W. Baird upgraded Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and upped their price target for the company from $6.00 to $10.00 in a research report on Wednesday, August 2nd. Credit Suisse Group upped their price target on Manitowoc Company, Inc. (The) from $6.10 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. BidaskClub upgraded Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Deutsche Bank AG reiterated a “hold” rating and set a $8.07 price target (up from $7.85) on shares of Manitowoc Company, Inc. (The) in a research report on Monday, October 9th. Finally, TheStreet upgraded Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a research report on Monday, August 7th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $8.97.

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Shares of Manitowoc Company, Inc. (NYSE:MTW) opened at $9.94 on Monday. Manitowoc Company, Inc. has a 52-week low of $4.82 and a 52-week high of $10.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 1.76.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.11. Manitowoc Company, Inc. (The) had a negative return on equity of 6.17% and a negative net margin of 4.01%. The firm had revenue of $399.40 million for the quarter, compared to analysts’ expectations of $385.01 million. During the same period in the prior year, the business posted ($0.28) earnings per share. The company’s revenue was up 14.2% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP bought a new position in shares of Manitowoc Company, Inc. (The) in the third quarter worth approximately $839,000. JPMorgan Chase & Co. increased its position in shares of Manitowoc Company, Inc. (The) by 6,356.7% in the third quarter. JPMorgan Chase & Co. now owns 241,932 shares of the industrial products company’s stock worth $2,172,000 after purchasing an additional 238,185 shares during the last quarter. Legal & General Group Plc boosted its stake in Manitowoc Company, Inc. (The) by 50.0% in the third quarter. Legal & General Group Plc now owns 59,156 shares of the industrial products company’s stock worth $533,000 after buying an additional 19,707 shares in the last quarter. American International Group Inc. boosted its stake in Manitowoc Company, Inc. (The) by 8.1% in the third quarter. American International Group Inc. now owns 85,512 shares of the industrial products company’s stock worth $770,000 after buying an additional 6,393 shares in the last quarter. Finally, Cipher Capital LP purchased a new stake in Manitowoc Company, Inc. (The) in the third quarter worth approximately $109,000. Institutional investors own 80.53% 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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