SunTrust Banks Research Analysts Increase Earnings Estimates for Manitowoc Company Inc (MTW)

Manitowoc Company Inc (NYSE:MTW) – Research analysts at SunTrust Banks raised their Q1 2018 earnings estimates for Manitowoc in a research note issued to investors on Sunday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings per share of ($0.24) for the quarter, up from their prior forecast of ($0.39). SunTrust Banks has a “Hold” rating and a $37.00 price objective on the stock. SunTrust Banks also issued estimates for Manitowoc’s Q2 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.22 EPS, FY2018 earnings at $0.47 EPS, Q1 2019 earnings at ($0.07) EPS and Q4 2019 earnings at $0.56 EPS.

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

MTW has been the subject of a number of other reports. Jefferies Group reiterated a “buy” rating on shares of Manitowoc in a report on Friday, November 10th. Royal Bank of Canada upgraded shares of Manitowoc from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $30.00 to $48.00 in a report on Wednesday, November 1st. Seaport Global Securities upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, November 20th. Zacks Investment Research cut shares of Manitowoc from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 21st. Finally, Robert W. Baird restated a “buy” rating and set a $47.00 price target on shares of Manitowoc in a report on Friday, November 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $39.92.

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

In other news, Director Charles David Myers purchased 3,854 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was bought at an average cost of $39.12 per share, for a total transaction of $150,768.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.82% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its stake in shares of Manitowoc by 343.7% in the third quarter. Ameriprise Financial Inc. now owns 133,340 shares of the industrial products company’s stock valued at $1,200,000 after buying an additional 103,289 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Manitowoc by 2.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 580,385 shares of the industrial products company’s stock valued at $5,224,000 after buying an additional 12,221 shares during the period. Private Advisor Group LLC lifted its stake in shares of Manitowoc by 46.4% in the third quarter. Private Advisor Group LLC now owns 31,722 shares of the industrial products company’s stock valued at $289,000 after buying an additional 10,050 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Manitowoc by 17.1% in the second quarter. Wells Fargo & Company MN now owns 151,840 shares of the industrial products company’s stock valued at $912,000 after buying an additional 22,133 shares during the period. Finally, Van Den Berg Management I Inc. lifted its stake 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 buying an additional 278,220 shares during the period.

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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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