Q3 2024 EPS Estimates for The Manitowoc Company, Inc. Reduced by Analyst (NYSE:MTW)

The Manitowoc Company, Inc. (NYSE:MTW) – Equities research analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of Manitowoc in a report released on Tuesday, March 26th. Zacks Research analyst R. Department now expects that the industrial products company will post earnings of $0.23 per share for the quarter, down from their prior forecast of $0.24. The consensus estimate for Manitowoc’s current full-year earnings is $1.29 per share. Zacks Research also issued estimates for Manitowoc’s Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.28 EPS and FY2025 earnings at $1.33 EPS.

MTW has been the subject of several other research reports. Wells Fargo & Company cut their price objective on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.29.

Manitowoc Stock Up 3.7 %

MTW stock opened at $14.02 on Thursday. Manitowoc has a twelve month low of $12.20 and a twelve month high of $19.81. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $497.43 million, a PE ratio of 12.86 and a beta of 2.04. The stock has a 50-day simple moving average of $14.61 and a two-hundred day simple moving average of $14.73.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.14). Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The firm had revenue of $595.80 million during the quarter, compared to the consensus estimate of $583.90 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis.

Institutional Investors Weigh In On Manitowoc

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Manitowoc by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 2,314,905 shares of the industrial products company’s stock valued at $38,636,000 after buying an additional 107,414 shares during the last quarter. Barclays PLC lifted its holdings in Manitowoc by 112.8% in the fourth quarter. Barclays PLC now owns 102,221 shares of the industrial products company’s stock valued at $1,705,000 after acquiring an additional 54,192 shares during the period. Voya Investment Management LLC lifted its holdings in Manitowoc by 6.8% in the fourth quarter. Voya Investment Management LLC now owns 310,952 shares of the industrial products company’s stock valued at $5,190,000 after acquiring an additional 19,879 shares during the period. Nuveen Asset Management LLC lifted its holdings in Manitowoc by 1.6% in the fourth quarter. Nuveen Asset Management LLC now owns 185,967 shares of the industrial products company’s stock valued at $3,104,000 after acquiring an additional 2,996 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in Manitowoc by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 481,295 shares of the industrial products company’s stock valued at $8,033,000 after acquiring an additional 12,359 shares during the period. 78.66% of the stock is owned by hedge funds and other institutional investors.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.