Q3 2019 EPS Estimates for Manitowoc Company Inc Reduced by Jefferies Financial Group (NYSE:MTW)

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Manitowoc Company Inc (NYSE:MTW) – Equities research analysts at Jefferies Financial Group cut their Q3 2019 earnings per share estimates for shares of Manitowoc in a report released on Sunday, August 11th. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will earn $0.30 per share for the quarter, down from their prior forecast of $0.35. Jefferies Financial Group also issued estimates for Manitowoc’s Q4 2019 earnings at $0.28 EPS and FY2021 earnings at $2.00 EPS.

Manitowoc (NYSE:MTW) last issued its earnings results on Thursday, August 8th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.42. Manitowoc had a positive return on equity of 7.97% and a negative net margin of 2.52%. The business had revenue of $504.70 million during the quarter, compared to analysts’ expectations of $509.51 million. During the same period in the prior year, the firm posted $0.40 EPS. Manitowoc’s quarterly revenue was up 1.9% compared to the same quarter last year.

MTW has been the subject of a number of other reports. ValuEngine cut Manitowoc from a “sell” rating to a “strong sell” rating in a report on Friday, May 10th. Zacks Investment Research cut Manitowoc from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a report on Tuesday. Royal Bank of Canada reaffirmed a “hold” rating and set a $20.00 price target on shares of Manitowoc in a report on Tuesday. Finally, Robert W. Baird cut Manitowoc from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $19.00 in a report on Monday. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Manitowoc currently has a consensus rating of “Hold” and a consensus target price of $18.67.

MTW stock opened at $14.36 on Wednesday. The business has a fifty day moving average price of $17.07 and a 200 day moving average price of $16.88. Manitowoc has a fifty-two week low of $13.22 and a fifty-two week high of $26.88. The stock has a market capitalization of $557.78 million, a price-to-earnings ratio of 22.44 and a beta of 2.11. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.76 and a quick ratio of 0.69.

In related news, CFO David J. Antoniuk sold 6,014 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $13.96, for a total transaction of $83,955.44. Following the completion of the sale, the chief financial officer now directly owns 37,544 shares of the company’s stock, valued at approximately $524,114.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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. BNP Paribas Arbitrage SA increased its stake in shares of Manitowoc by 297.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,177 shares of the industrial products company’s stock valued at $134,000 after buying an additional 6,121 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Manitowoc by 12.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,725 shares of the industrial products company’s stock valued at $143,000 after buying an additional 1,000 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Manitowoc in the 1st quarter valued at $153,000. Finally, 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. 78.56% 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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