Q3 2024 EPS Estimates for The Manitowoc Company, Inc. Reduced by Analyst (NYSE:MTW)

The Manitowoc Company, Inc. (NYSE:MTW) – Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for Manitowoc in a research report issued to clients and investors on Tuesday, March 26th. Zacks Research analyst R. Department now expects that the industrial products company will post earnings per share of $0.23 for the quarter, down from their previous estimate of $0.24. The consensus estimate for Manitowoc’s current full-year earnings is $1.29 per share. Zacks Research also issued estimates for Manitowoc’s Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.28 EPS and FY2025 earnings at $1.33 EPS.

A number of other research firms also recently weighed in on MTW. Wells Fargo & Company decreased their target price on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Manitowoc currently has a consensus rating of “Hold” and a consensus price target of $17.29.

Manitowoc Trading Up 3.7 %

Shares of NYSE:MTW opened at $14.02 on Thursday. The company has a market cap of $497.43 million, a P/E ratio of 12.86 and a beta of 2.04. The stock’s 50-day moving average is $14.61 and its 200-day moving average is $14.73. Manitowoc has a 52-week low of $12.20 and a 52-week high of $19.81. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.14). The firm had revenue of $595.80 million for the quarter, compared to analysts’ expectations of $583.90 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. Manitowoc’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Manitowoc by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 2,314,905 shares of the industrial products company’s stock valued at $38,636,000 after purchasing an additional 107,414 shares in the last quarter. Barclays PLC grew its holdings in Manitowoc by 112.8% during the 4th quarter. Barclays PLC now owns 102,221 shares of the industrial products company’s stock worth $1,705,000 after acquiring an additional 54,192 shares during the period. Voya Investment Management LLC grew its holdings in Manitowoc by 6.8% during the 4th quarter. Voya Investment Management LLC now owns 310,952 shares of the industrial products company’s stock worth $5,190,000 after acquiring an additional 19,879 shares during the period. Nuveen Asset Management LLC grew its holdings in Manitowoc by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 185,967 shares of the industrial products company’s stock worth $3,104,000 after acquiring an additional 2,996 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Manitowoc by 2.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 481,295 shares of the industrial products company’s stock valued at $8,033,000 after buying an additional 12,359 shares during the period. Institutional investors own 78.66% of the company’s stock.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.