Manitowoc Company Receives Average Rating of “Buy” from Brokerages (NYSE:MTW)
Manitowoc Company (NYSE:MTW) has received a consensus recommendation of “Buy” from the fifteen brokerages that are covering the company, Analyst Ratings.Net reports. Six research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $30.40.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Manitowoc Company in a research note on Monday, August 4th. They now have a $28.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Manitowoc Company from $34.00 to $33.00 in a research note on Friday, August 1st. Finally, 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, August 1st.
Shares of Manitowoc Company (NYSE:MTW) opened at 27.63 on Monday. Manitowoc Company has a 1-year low of $18.12 and a 1-year high of $33.50. The stock has a 50-day moving average of $30.35 and a 200-day moving average of $29.63. The company has a market cap of $3.738 billion and a price-to-earnings ratio of 33.66.
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. On average, analysts predict that Manitowoc Company will post $1.56 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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