Manitowoc Company Inc (NYSE:MTW) – William Blair cut their FY2019 earnings per share estimates for shares of Manitowoc in a report issued on Tuesday, November 6th. William Blair analyst L. De. Maria now forecasts that the industrial products company will post earnings of $1.30 per share for the year, down from their previous forecast of $1.35.
Manitowoc (NYSE:MTW) last posted its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. Manitowoc had a net margin of 2.56% and a return on equity of 1.80%. The firm had revenue of $450.10 million during the quarter, compared to analyst estimates of $452.64 million. During the same quarter last year, the business posted $0.37 EPS. The company’s revenue was up 12.7% on a year-over-year basis.
A number of other equities analysts have also commented on the stock. Royal Bank of Canada decreased their price objective on shares of Manitowoc to $35.00 and set an “outperform” rating for the company in a research note on Wednesday. They noted that the move was a valuation call. Robert W. Baird raised shares of Manitowoc from a “neutral” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Thursday, September 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Manitowoc in a research note on Sunday, August 12th. Macquarie raised their price objective on shares of Manitowoc from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Finally, Citigroup decreased their price objective on shares of Manitowoc from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Manitowoc presently has an average rating of “Buy” and a consensus price target of $30.50.
Manitowoc stock opened at $19.12 on Friday. Manitowoc has a 52 week low of $16.74 and a 52 week high of $44.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.75 and a quick ratio of 0.73. The company has a market capitalization of $716.70 million, a P/E ratio of -73.54 and a beta of 1.62.
Large investors have recently modified their holdings of the business. GSA Capital Partners LLP boosted its stake in shares of Manitowoc by 242.9% during the 2nd quarter. GSA Capital Partners LLP now owns 63,672 shares of the industrial products company’s stock valued at $1,647,000 after buying an additional 45,105 shares during the period. First Trust Advisors LP acquired a new stake in shares of Manitowoc during the 2nd quarter valued at $346,000. Private Advisor Group LLC acquired a new stake in shares of Manitowoc during the 2nd quarter valued at $269,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Manitowoc by 10.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 187,927 shares of the industrial products company’s stock valued at $4,860,000 after buying an additional 17,872 shares during the period. Finally, Fox Run Management L.L.C. boosted its stake in shares of Manitowoc by 69.6% during the 3rd quarter. Fox Run Management L.L.C. now owns 19,049 shares of the industrial products company’s stock valued at $457,000 after buying an additional 7,815 shares during the period. 79.78% of the stock is owned by institutional investors.
Manitowoc Company Profile
The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.
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