FY2017 Earnings Estimate for Manitowoc Company Inc (MTW) Issued By SunTrust Banks

Manitowoc Company Inc (NYSE:MTW) – SunTrust Banks decreased their FY2017 EPS estimates for shares of Manitowoc in a research note issued to investors on Wednesday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will earn ($0.14) per share for the year, down from their previous estimate of ($0.12). SunTrust Banks has a “Hold” rating and a $37.00 price objective on the stock. SunTrust Banks also issued estimates for Manitowoc’s Q1 2018 earnings at ($0.39) EPS, Q2 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.32 EPS, Q2 2019 earnings at $0.46 EPS and Q4 2019 earnings at $0.65 EPS.

Several other research analysts have also recently issued reports on the stock. Seaport Global Securities raised shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, November 20th. Citigroup increased their price target on shares of Manitowoc from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Robert W. Baird reissued a “buy” rating and set a $47.00 price target on shares of Manitowoc in a report on Friday, November 24th. Deutsche Bank reissued a “hold” rating and set a $32.28 price target (up from $31.40) on shares of Manitowoc in a report on Monday, October 9th. Finally, Royal Bank of Canada raised shares of Manitowoc from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $30.00 to $48.00 in a report on Wednesday, November 1st. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.64.

Manitowoc (NYSE:MTW) opened at $39.36 on Friday. The stock has a market cap of $1,380.00, a PE ratio of -28.73 and a beta of 1.56. Manitowoc has a 1-year low of $21.00 and a 1-year high of $42.12. 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 (NYSE:MTW) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.44. The firm had revenue of $399.40 million during the quarter, compared to analysts’ expectations of $385.01 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.12) earnings per share.

A number of institutional investors have recently modified their holdings of MTW. Cipher Capital LP purchased a new position in Manitowoc in the third quarter valued at about $109,000. BNP Paribas Arbitrage SA increased its stake in shares of 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 purchasing an additional 16,065 shares in the last quarter. Invictus RG purchased a new position in shares of Manitowoc during the 3rd quarter worth approximately $124,000. Advisor Group Inc. increased its stake in shares of 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 purchasing an additional 572 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Manitowoc by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,051 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 3,733 shares in the last quarter.

In related news, Director Charles David Myers bought 3,854 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was bought at an average cost of $39.12 per share, with a total value of $150,768.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.82% of the company’s stock.

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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.

Earnings History and Estimates for Manitowoc (NYSE:MTW)

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