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.
TRADEMARK VIOLATION WARNING: “FY2017 Earnings Estimate for Manitowoc Company Inc (MTW) Issued By SunTrust Banks” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://ledgergazette.com/2018/01/14/fy2017-earnings-estimate-for-manitowoc-company-inc-mtw-issued-by-suntrust-banks.html.
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.
Receive News & Ratings for Manitowoc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc and related companies with MarketBeat.com's FREE daily email newsletter.