Seaport Global Securities Weighs in on Manitowoc Company Inc’s Q1 2018 Earnings (MTW)

Manitowoc Company Inc (NYSE:MTW) – Research analysts at Seaport Global Securities lowered their Q1 2018 earnings estimates for shares of Manitowoc in a report released on Monday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will post earnings of ($0.17) per share for the quarter, down from their prior estimate of $0.12. Seaport Global Securities has a “Buy” rating and a $48.00 price objective on the stock. Seaport Global Securities also issued estimates for Manitowoc’s Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.50 EPS and FY2019 earnings at $1.51 EPS.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Thursday, February 8th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.11). Manitowoc had a negative return on equity of 1.59% and a net margin of 0.59%. The firm had revenue of $481.50 million for the quarter, compared to analysts’ expectations of $423.27 million. During the same quarter in the prior year, the business posted ($0.24) earnings per share. Manitowoc’s revenue was up 27.3% on a year-over-year basis.

Several other brokerages have also issued reports on MTW. Stifel Nicolaus increased their price objective on Manitowoc from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 21st. SunTrust Banks increased their target price on shares of Manitowoc to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Barclays assumed coverage on shares of Manitowoc in a research report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 target price on the stock. Finally, Robert W. Baird reissued a “buy” rating and set a $47.00 target price on shares of Manitowoc in a research report on Friday, November 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.92.

Shares of Manitowoc (NYSE:MTW) opened at $33.95 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.67 and a current ratio of 1.76. Manitowoc has a 1-year low of $21.00 and a 1-year high of $44.03.

In other Manitowoc news, Director Charles David Myers bought 3,854 shares of the stock in a transaction on Wednesday, November 29th. The shares were purchased at an average cost of $39.12 per share, with a total value of $150,768.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.82% of the company’s stock.

Several large investors have recently modified their holdings of MTW. Dimensional Fund Advisors LP grew its position in shares of Manitowoc by 21.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,647,423 shares of the industrial products company’s stock valued at $51,970,000 after purchasing an additional 1,499,384 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Manitowoc in the fourth quarter valued at about $29,631,000. Vanguard Group Inc. grew its position in shares of Manitowoc by 4.6% in the second quarter. Vanguard Group Inc. now owns 10,621,323 shares of the industrial products company’s stock valued at $63,834,000 after purchasing an additional 471,356 shares during the last quarter. Van Den Berg Management I Inc. grew its position in shares of Manitowoc by 18.4% in the third quarter. Van Den Berg Management I Inc. now owns 1,789,888 shares of the industrial products company’s stock valued at $16,109,000 after purchasing an additional 278,220 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Manitowoc by 6,356.7% in the third quarter. JPMorgan Chase & Co. now owns 241,932 shares of the industrial products company’s stock valued at $2,172,000 after purchasing an additional 238,185 shares during the last quarter.

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Manitowoc Company Profile

The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.

Earnings History and Estimates for Manitowoc (NYSE:MTW)

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