Manitowoc Company, Inc. (The)’s (MTW) Buy Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of Manitowoc Company, Inc. (The) (NYSE:MTW) in a research note released on Friday morning. Jefferies Group also issued estimates for Manitowoc Company, Inc. (The)’s Q4 2017 earnings at ($0.02) EPS, FY2017 earnings at ($0.05) EPS, Q1 2018 earnings at $0.01 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.04 EPS, Q4 2018 earnings at $0.08 EPS, FY2018 earnings at $0.25 EPS and FY2019 earnings at ($0.55) EPS.

A number of other brokerages have also recently weighed in on MTW. Stifel Nicolaus lifted their price objective on shares of Manitowoc Company, Inc. (The) from $9.00 to $12.00 and gave the company a buy rating in a report on Wednesday, November 8th. Royal Bank Of Canada upgraded shares of Manitowoc Company, Inc. (The) from a sector perform rating to an outperform rating and lifted their price objective for the company from $7.50 to $12.00 in a report on Wednesday, November 1st. SunTrust Banks, Inc. restated a hold rating and issued a $7.00 price objective on shares of Manitowoc Company, Inc. (The) in a report on Friday, October 27th. Citigroup Inc. lifted their price objective on shares of Manitowoc Company, Inc. (The) from $8.50 to $10.00 and gave the company a neutral rating in a report on Friday, October 13th. Finally, Zacks Investment Research cut shares of Manitowoc Company, Inc. (The) from a buy rating to a hold rating in a report on Wednesday, October 11th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $8.97.

Shares of Manitowoc Company, Inc. (MTW) opened at $9.88 on Friday. Manitowoc Company, Inc. has a 12-month low of $4.82 and a 12-month high of $10.53. The company has a current ratio of 1.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.44.

Manitowoc Company, Inc. (The) (NYSE:MTW) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.11. Manitowoc Company, Inc. (The) had a negative net margin of 4.01% and a negative return on equity of 6.17%. The business had revenue of $399.40 million during the quarter, compared to analysts’ expectations of $385.01 million. During the same period last year, the business earned ($0.28) earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. equities analysts forecast that Manitowoc Company, Inc. will post -0.04 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor Group Inc. grew its holdings in Manitowoc Company, Inc. (The) by 2.4% during the 2nd quarter. Advisor Group Inc. now owns 24,120 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 572 shares in the last quarter. Bank of America Corp DE grew its holdings in Manitowoc Company, Inc. (The) by 1.6% during the 1st quarter. Bank of America Corp DE now owns 90,840 shares of the industrial products company’s stock worth $518,000 after acquiring an additional 1,391 shares in the last quarter. Birmingham Capital Management Co. Inc. AL grew its holdings in Manitowoc Company, Inc. (The) by 6.3% during the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 28,575 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 1,700 shares in the last quarter. Nationwide Fund Advisors grew its holdings in Manitowoc Company, Inc. (The) by 1.8% during the 2nd quarter. Nationwide Fund Advisors now owns 106,310 shares of the industrial products company’s stock worth $639,000 after acquiring an additional 1,926 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Manitowoc Company, Inc. (The) by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 175,558 shares of the industrial products company’s stock worth $1,055,000 after acquiring an additional 1,977 shares in the last quarter. Institutional investors own 80.68% of the company’s stock.

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.

Analyst Recommendations for Manitowoc Company, Inc. (The) (NYSE:MTW)

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