The Manitowoc Company, Inc. (NYSE:MTW) Forecasted to Earn Q1 2024 Earnings of $0.21 Per Share

The Manitowoc Company, Inc. (NYSE:MTW) – Investment analysts at Zacks Research cut their Q1 2024 EPS estimates for Manitowoc in a report issued on Tuesday, March 26th. Zacks Research analyst R. Department now forecasts that the industrial products company will post earnings per share of $0.21 for the quarter, down from their prior estimate of $0.22. The consensus estimate for Manitowoc’s current full-year earnings is $1.29 per share. Zacks Research also issued estimates for Manitowoc’s Q2 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $1.26 EPS, Q1 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.29 EPS and FY2026 earnings at $1.52 EPS.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company decreased their price objective on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. StockNews.com downgraded shares of Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.29.

Manitowoc Trading Up 0.9 %

NYSE:MTW opened at $14.14 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83. The firm has a 50-day simple moving average of $14.58 and a 200-day simple moving average of $14.72. Manitowoc has a one year low of $12.20 and a one year high of $19.81. The firm has a market cap of $501.69 million, a P/E ratio of 12.97 and a beta of 2.04.

Manitowoc (NYSE:MTW) last issued its earnings results on Thursday, February 15th. The industrial products company reported $0.09 earnings per share 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 for the quarter, compared to the consensus estimate of $583.90 million. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis.

Institutional Investors Weigh In On Manitowoc

Several institutional investors and hedge funds have recently made changes to their positions in MTW. Vanguard Group Inc. raised its stake in Manitowoc by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 2,314,905 shares of the industrial products company’s stock worth $38,636,000 after acquiring an additional 107,414 shares during the last quarter. Barclays PLC raised its stake in shares of Manitowoc by 112.8% in the fourth quarter. Barclays PLC now owns 102,221 shares of the industrial products company’s stock worth $1,705,000 after purchasing an additional 54,192 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Manitowoc by 6.8% during the fourth quarter. Voya Investment Management LLC now owns 310,952 shares of the industrial products company’s stock worth $5,190,000 after purchasing an additional 19,879 shares during the period. Nuveen Asset Management LLC lifted its stake in Manitowoc by 1.6% during the 4th 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 increased its stake in shares of Manitowoc by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 481,295 shares of the industrial products company’s stock worth $8,033,000 after acquiring an additional 12,359 shares during the period. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Company Profile

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.