Manitowoc Co. (MTW) Stock Price Down 2.4%
Manitowoc Co. (NYSE:MTW) fell 2.4% during mid-day trading on Monday . The stock traded as low as $4.89 and last traded at $4.91, with a volume of 1,395,933 shares changing hands. The stock had previously closed at $5.03.
Several research firms have issued reports on MTW. Citigroup Inc. reissued a “hold” rating on shares of Manitowoc in a research report on Saturday, May 14th. Robert W. Baird reissued a “hold” rating on shares of Manitowoc in a research report on Sunday, May 8th. Vetr raised shares of Manitowoc from a “hold” rating to a “buy” rating and set a $5.95 price objective for the company in a research report on Thursday, May 19th. Credit Suisse Group AG reissued a “hold” rating and issued a $4.24 price objective on shares of Manitowoc in a research report on Thursday, May 5th. Finally, Seaport Global Securities raised shares of Manitowoc from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $5.00 to $7.00 in a research report on Friday, May 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Manitowoc presently has a consensus rating of “Hold” and an average target price of $10.75.
The stock’s 50-day moving average price is $5.36 and its 200 day moving average price is $6.62. The company’s market cap is $672.75 million.
Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $457.70 million for the quarter, compared to analyst estimates of $466.92 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. Manitowoc’s revenue was down 4.2% on a year-over-year basis. Equities research analysts expect that Manitowoc Co. will post ($0.10) earnings per share for the current fiscal year.
The Manitowoc Company, Inc (MTW) is a multi-industry, capital goods manufacturer. The Company operates in two principal markets: Cranes and Related Products (Crane) and Foodservice Equipment (Foodservice). Crane is a provider of engineered lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks.
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