Manitowoc Company, Inc. (The) (NYSE:MTW) to Post Q3 2017 Earnings of ($0.02) Per Share, Jefferies Group Forecasts

Manitowoc Company, Inc. (The) (NYSE:MTW) – Stock analysts at Jefferies Group raised their Q3 2017 EPS estimates for shares of Manitowoc Company, Inc. (The) in a research note issued to investors on Tuesday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will earn ($0.02) per share for the quarter, up from their prior estimate of ($0.10). Jefferies Group currently has a “Buy” rating and a $9.50 target price on the stock. Jefferies Group also issued estimates for Manitowoc Company, Inc. (The)’s Q4 2017 earnings at $0.02 EPS and FY2017 earnings at ($0.15) EPS.

A number of other equities research analysts have also recently issued reports on MTW. Deutsche Bank AG upped their price target on shares of Manitowoc Company, Inc. (The) from $6.22 to $6.30 and gave the company a “hold” rating in a report on Friday, May 12th. ValuEngine upgraded shares of Manitowoc Company, Inc. (The) from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a “hold” rating and set a $6.50 price target on shares of Manitowoc Company, Inc. (The) in a report on Thursday, June 22nd. Zacks Investment Research cut shares of Manitowoc Company, Inc. (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, BidaskClub lowered shares of Manitowoc Company, Inc. (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.99.

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Manitowoc Company, Inc. (NYSE:MTW) opened at 7.93 on Friday. The stock’s market capitalization is $1.11 billion. Manitowoc Company, Inc. has a 52-week low of $3.65 and a 52-week high of $8.40. The firm has a 50-day moving average price of $6.20 and a 200 day moving average price of $6.07.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its position in Manitowoc Company, Inc. (The) by 1.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,085 shares of the industrial products company’s stock valued at $234,000 after buying an additional 406 shares during the period. Advisor Group Inc. raised its position in Manitowoc Company, Inc. (The) by 2.4% in the second quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock valued at $145,000 after buying an additional 572 shares during the period. Bank of America Corp DE raised its position in Manitowoc Company, Inc. (The) by 1.6% in the first quarter. Bank of America Corp DE now owns 90,840 shares of the industrial products company’s stock valued at $518,000 after buying an additional 1,391 shares during the period. Birmingham Capital Management Co. Inc. AL raised its position in Manitowoc Company, Inc. (The) by 6.3% in the second quarter. Birmingham Capital Management Co. Inc. AL now owns 28,575 shares of the industrial products company’s stock valued at $172,000 after buying an additional 1,700 shares during the period. Finally, Nationwide Fund Advisors raised its position in Manitowoc Company, Inc. (The) by 1.7% in the first quarter. Nationwide Fund Advisors now owns 104,384 shares of the industrial products company’s stock valued at $595,000 after buying an additional 1,783 shares during the period. 79.25% of the stock is owned by hedge funds and other institutional investors.

Manitowoc Company, Inc. (The) Company Profile

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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