Seaport Global Securities Weighs in on Manitowoc Company, Inc. (The)’s Q4 2017 Earnings (MTW)

Manitowoc Company, Inc. (The) (NYSE:MTW) – Investment analysts at Seaport Global Securities lifted their Q4 2017 earnings per share estimates for Manitowoc Company, Inc. (The) in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will earn $0.01 per share for the quarter, up from their previous forecast of ($0.01). Seaport Global Securities also issued estimates for Manitowoc Company, Inc. (The)’s Q2 2018 earnings at $0.02 EPS and FY2019 earnings at $0.19 EPS.

A number of other equities analysts also recently commented on MTW. BidaskClub upgraded Manitowoc Company, Inc. (The) from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine upgraded Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a report on Thursday. UBS AG restated a “neutral” rating and set a $8.00 target price (up previously from $6.00) on shares of Manitowoc Company, Inc. (The) in a report on Thursday. TheStreet upgraded Manitowoc Company, Inc. (The) from a “d” rating to a “c-” rating in a report on Monday. Finally, Robert W. Baird upgraded Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $6.00 to $10.00 in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Manitowoc Company, Inc. (The) currently has a consensus rating of “Hold” and a consensus price target of $6.99.

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Shares of Manitowoc Company, Inc. (MTW) traded up 1.79% during mid-day trading on Friday, hitting $7.94. 676,226 shares of the stock traded hands. Manitowoc Company, Inc. has a 52 week low of $3.65 and a 52 week high of $8.40. The stock’s market cap is $1.12 billion. The firm’s 50-day moving average is $6.14 and its 200-day moving average is $6.06.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. The company had revenue of $394.60 million during the quarter, compared to the consensus estimate of $396.44 million. Manitowoc Company, Inc. (The) had a negative net margin of 14.63% and a negative return on equity of 14.85%. The company’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS.

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Manitowoc Company, Inc. (The) by 33.0% in the first quarter. Dimensional Fund Advisors LP now owns 7,148,039 shares of the industrial products company’s stock worth $40,744,000 after buying an additional 1,771,886 shares in the last quarter. Stifel Financial Corp bought a new stake in Manitowoc Company, Inc. (The) during the first quarter worth approximately $213,000. Bank of New York Mellon Corp boosted its stake in Manitowoc Company, Inc. (The) by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 729,204 shares of the industrial products company’s stock worth $4,155,000 after buying an additional 45,461 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Manitowoc Company, Inc. (The) by 8.7% in the first quarter. Ameriprise Financial Inc. now owns 26,318 shares of the industrial products company’s stock worth $150,000 after buying an additional 2,117 shares in the last quarter. Finally, Invictus RG bought a new stake in Manitowoc Company, Inc. (The) during the first quarter worth approximately $190,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

About Manitowoc Company, Inc. (The)

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 Company, Inc. (The) (NYSE:MTW)

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