Manitowoc Company Inc (NYSE:MTW) – SunTrust Banks decreased their FY2017 earnings estimates for shares of Manitowoc in a research note issued to investors on Wednesday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings of ($0.14) per share for the year, down from their prior forecast of ($0.12). SunTrust Banks currently has a “Hold” rating and a $37.00 target price on the stock. SunTrust Banks also issued estimates for Manitowoc’s Q1 2018 earnings at ($0.39) EPS, Q2 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.32 EPS, Q2 2019 earnings at $0.46 EPS and Q4 2019 earnings at $0.65 EPS.

MTW has been the subject of several other reports. Deutsche Bank restated a “hold” rating and issued a $32.28 price objective (up from $31.40) on shares of Manitowoc in a report on Monday, October 9th. Robert W. Baird restated a “buy” rating and issued a $47.00 price objective on shares of Manitowoc in a report on Friday, November 24th. Zacks Investment Research lowered shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Seaport Global Securities upgraded shares of Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Monday, November 20th. Finally, Jefferies Group restated a “buy” rating and issued a $42.00 price objective on shares of Manitowoc in a report on Friday, October 6th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $39.64.

Shares of Manitowoc (NYSE:MTW) opened at $39.36 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. Manitowoc has a 1-year low of $21.00 and a 1-year high of $42.12. The company has a market cap of $1,410.00, a PE ratio of -28.73 and a beta of 1.56.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.44. Manitowoc had a net margin of 2.43% and a return on equity of 6.36%. The business had revenue of $399.40 million during the quarter, compared to analyst estimates of $385.01 million. During the same period last year, the business posted ($1.12) earnings per share. Manitowoc’s quarterly revenue was up 14.2% compared to the same quarter last year.

In other Manitowoc news, Director Charles David Myers bought 3,854 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average price of $39.12 per share, with a total value of $150,768.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.82% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MTW. Southpoint Capital Advisors LP increased its stake in shares of Manitowoc by 29.2% during the second quarter. Southpoint Capital Advisors LP now owns 7,750,000 shares of the industrial products company’s stock valued at $46,578,000 after purchasing an additional 1,750,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Manitowoc by 21.0% during 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 in the last quarter. JHL Capital Group LLC increased its stake in shares of Manitowoc by 100.0% during the second quarter. JHL Capital Group LLC now owns 1,500,000 shares of the industrial products company’s stock valued at $9,015,000 after purchasing an additional 750,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Manitowoc by 4.6% during 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 acquiring an additional 471,356 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Manitowoc by 14.2% during the second quarter. Franklin Resources Inc. now owns 3,549,300 shares of the industrial products company’s stock valued at $21,331,000 after acquiring an additional 440,000 shares in the last quarter.

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About Manitowoc

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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