Manitowoc Company Inc (NYSE:MTW) to Post FY2019 Earnings of $1.81 Per Share, Jefferies Financial Group Forecasts

Manitowoc Company Inc (NYSE:MTW) – Analysts at Jefferies Financial Group raised their FY2019 earnings per share (EPS) estimates for shares of Manitowoc in a report released on Sunday, November 10th. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will post earnings per share of $1.81 for the year, up from their previous forecast of $1.60. Jefferies Financial Group also issued estimates for Manitowoc’s Q4 2019 earnings at $0.25 EPS, Q4 2020 earnings at $0.45 EPS and FY2021 earnings at $1.95 EPS.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reiterated a “hold” rating and issued a $20.00 price objective on shares of Manitowoc in a research report on Tuesday, August 13th. Dougherty & Co began coverage on Manitowoc in a research report on Wednesday, August 28th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Manitowoc from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Tuesday. Robert W. Baird downgraded Manitowoc from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Monday, August 12th. Finally, Shore Capital reiterated a “buy” rating on shares of Manitowoc in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Manitowoc has an average rating of “Hold” and a consensus target price of $16.83.

Shares of MTW opened at $15.63 on Tuesday. The stock has a fifty day moving average price of $12.62 and a two-hundred day moving average price of $14.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.70 and a current ratio of 1.78. Manitowoc has a 52-week low of $10.49 and a 52-week high of $20.09. The company has a market cap of $561.36 million, a price-to-earnings ratio of 24.42, a PEG ratio of 0.95 and a beta of 2.16.

Manitowoc (NYSE:MTW) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.20. Manitowoc had a positive return on equity of 10.22% and a negative net margin of 2.17%. The firm had revenue of $448.00 million during the quarter, compared to the consensus estimate of $455.27 million. During the same quarter in the previous year, the company posted $0.20 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTW. Golden State Wealth Management LLC acquired a new stake in shares of Manitowoc in the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC increased its stake in shares of Manitowoc by 513.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,010 shares of the industrial products company’s stock valued at $63,000 after buying an additional 4,193 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Manitowoc by 20.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,695 shares of the industrial products company’s stock valued at $84,000 after buying an additional 800 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Manitowoc by 264.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,593 shares of the industrial products company’s stock valued at $170,000 after buying an additional 6,961 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Manitowoc by 104.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,905 shares of the industrial products company’s stock valued at $177,000 after buying an additional 5,056 shares during the period. 78.67% of the stock is owned by institutional investors.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Earnings History and Estimates for Manitowoc (NYSE:MTW)

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