RBC Capital Lowers Manitowoc Company Price Target to $33.00 (MTW)
Analysts at RBC Capital decreased their price target on shares of Manitowoc Company (NYSE:MTW) from $34.00 to $33.00 in a research report issued to clients and investors on Friday. RBC Capital’s target price would suggest a potential upside of 22.04% from the stock’s previous close.
Shares of Manitowoc Company (NYSE:MTW) traded up 1.81% on Friday, hitting $27.04. 4,438,855 shares of the company’s stock traded hands. Manitowoc Company has a 52-week low of $18.12 and a 52-week high of $33.50. The stock has a 50-day moving average of $30.77 and a 200-day moving average of $29.54. The company has a market cap of $3.650 billion and a price-to-earnings ratio of 31.85.
Manitowoc Company (NYSE:MTW) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.42 by $0.07. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $0.45 earnings per share. Manitowoc Company’s revenue was down 2.3% compared to the same quarter last year. Analysts expect that Manitowoc Company will post $1.63 EPS for the current fiscal year.
A number of other firms have also recently commented on MTW. Analysts at Global Hunter Securities cut their price target on shares of Manitowoc Company from $30.00 to $26.00 in a research note on Friday. Separately, analysts at Robert W. Baird cut their price target on shares of Manitowoc Company from $38.00 to $34.00 in a research note on Friday. Finally, analysts at Barclays cut their price target on shares of Manitowoc Company from $36.00 to $32.00 in a research note on Friday. They now have an “overweight” rating on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $30.53.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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