Manitowoc Receives Average Recommendation of “Hold” from Brokerages (NYSE:MTW)
Manitowoc (NYSE:MTW) has been given an average recommendation of “Hold” by the fifteen analysts that are covering the company, AnalystRatings.Net reports. Eight investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $30.07.
MTW has been the subject of a number of recent research reports. Analysts at BMO Capital Markets downgraded shares of Manitowoc from an “outperform” rating to a “market perform” rating in a research note on Friday. They now have a $34.00 price target on the stock. Separately, analysts at Jefferies Group upgraded shares of Manitowoc from an “underperform” rating to a “hold” rating in a research note on Friday. They now have a $33.00 price target on the stock, up previously from $24.00. Finally, analysts at Global Hunter Securities initiated coverage on shares of Manitowoc in a research note on Thursday, June 19th. They set a “neutral” rating and a $30.00 price target on the stock.
Manitowoc (NYSE:MTW) traded up 8.85% on Friday, hitting $32.34. The stock had a trading volume of 2,750,800 shares. Manitowoc has a 52 week low of $17.85 and a 52 week high of $33.46. The stock has a 50-day moving average of $28.26 and a 200-day moving average of $28.00. The company has a market cap of $4.371 billion and a P/E ratio of 32.79.
Manitowoc (NYSE:MTW) last released its earnings data on Thursday, May 1st. The company reported $0.17 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.03. The company had revenue of $850.00 million for the quarter, compared to the consensus estimate of $913.66 million. During the same quarter last year, the company posted $0.09 earnings per share. Manitowoc’s revenue was down 5.0% compared to the same quarter last year. On average, analysts predict that Manitowoc will post $1.64 earnings per share for the current fiscal year.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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