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The Manitowoc Company, Inc. (NYSE:MTW - Get Rating) - Stock analysts at Jefferies Financial Group decreased their Q3 2022 earnings estimates for shares of Manitowoc in a research report issued to clients and investors on Wednesday, August 17th. Jefferies Financial Group analyst S. Volkmann now forecasts that the industrial products company will earn $0.04 per share for the quarter, down from their previous estimate of $0.25. The consensus estimate for Manitowoc's current full-year earnings is $0.50 per share. Jefferies Financial Group also issued estimates for Manitowoc's Q4 2022 earnings at $0.03 EPS, FY2022 earnings at $0.30 EPS, Q2 2023 earnings at $0.20 EPS, Q4 2023 earnings at $0.15 EPS, FY2023 earnings at $0.60 EPS and FY2024 earnings at $0.80 EPS.
MTW has been the subject of several other research reports. Robert W. Baird dropped their price objective on shares of Manitowoc from $16.00 to $15.00 in a research note on Wednesday, May 4th. JPMorgan Chase & Co. decreased their target price on shares of Manitowoc from $14.50 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, July 12th. UBS Group decreased their target price on shares of Manitowoc from $19.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, July 21st. Credit Suisse Group set a $12.00 target price on shares of Manitowoc in a report on Tuesday, July 19th. Finally, Wells Fargo & Company decreased their target price on shares of Manitowoc from $13.00 to $12.00 and set an "underweight" rating on the stock in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $13.07.Manitowoc Stock Down 2.3 %
Shares of NYSE MTW opened at $10.40 on Monday. Manitowoc has a 12-month low of $9.83 and a 12-month high of $25.72. The stock has a market cap of $365.85 million, a PE ratio of 26.00 and a beta of 2.06. The company has a current ratio of 1.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $10.85 and a 200 day moving average of $13.25.
Manitowoc (NYSE:MTW - Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.15). Manitowoc had a net margin of 0.77% and a return on equity of 3.05%. The business had revenue of $497.20 million for the quarter, compared to analysts' expectations of $553.68 million. During the same period in the prior year, the company posted $0.60 EPS. The firm's revenue was up 7.2% on a year-over-year basis. Institutional Investors Weigh In On Manitowoc
Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in Manitowoc by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,896,829 shares of the industrial products company's stock worth $28,539,000 after buying an additional 12,753 shares in the last quarter. KBC Group NV increased its position in shares of Manitowoc by 24.3% in the 1st quarter. KBC Group NV now owns 6,247 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 1,223 shares during the last quarter. Keybank National Association OH increased its position in shares of Manitowoc by 33.1% in the 4th quarter. Keybank National Association OH now owns 19,300 shares of the industrial products company's stock valued at $359,000 after purchasing an additional 4,800 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Manitowoc by 4.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 39,835 shares of the industrial products company's stock valued at $601,000 after purchasing an additional 1,731 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Manitowoc by 193.0% in the 1st quarter. Russell Investments Group Ltd. now owns 221,025 shares of the industrial products company's stock valued at $3,331,000 after purchasing an additional 145,601 shares during the last quarter. 76.36% of the stock is currently owned by institutional investors and hedge funds. Insider Transactions at Manitowoc
In related news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the firm's stock in a transaction dated Friday, August 5th. The shares were purchased at an average cost of $11.30 per share, for a total transaction of $33,900.00. Following the acquisition, the chief executive officer now owns 211,951 shares in the company, valued at approximately $2,395,046.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Manitowoc news, Director Kenneth W. Krueger bought 34,500 shares of Manitowoc stock in a transaction on Friday, June 10th. The shares were bought at an average cost of $12.49 per share, for a total transaction of $430,905.00. Following the acquisition, the director now directly owns 123,472 shares in the company, valued at $1,542,165.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aaron H. Ravenscroft bought 3,000 shares of Manitowoc stock in a transaction on Friday, August 5th. The shares were acquired at an average price of $11.30 per share, for a total transaction of $33,900.00. Following the completion of the acquisition, the chief executive officer now owns 211,951 shares in the company, valued at $2,395,046.30. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 39,619 shares of company stock worth $488,559. 2.52% of the stock is currently owned by insiders. About Manitowoc (Get Rating)
The Manitowoc Company, Inc provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.Featured ArticlesGet a free copy of the StockNews.com research report on Manitowoc (MTW)2 EV Suppliers Powering To Gains After Raising Views Applied Materials Results Show A Slowing Semiconductor MarketMarketBeat: Week in Review 8/15 - 8/19Near-Term Headwinds Present An Opportunity In Ross StoresApple’s Stock Could Be On The Verge Of Another 30% Rally
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