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The Manitowoc Company, Inc. (NYSE:MTW - Get Rating) - Equities researchers at Zacks Research issued their Q3 2022 earnings per share estimates for Manitowoc in a note issued to investors on Tuesday, August 30th. Zacks Research analyst M. Das expects that the industrial products company will post earnings per share of $0.09 for the quarter. The consensus estimate for Manitowoc's current full-year earnings is $0.50 per share. Zacks Research also issued estimates for Manitowoc's Q4 2022 earnings at $0.17 EPS, FY2022 earnings at $0.51 EPS, Q1 2023 earnings at $0.12 EPS, Q2 2023 earnings at $0.24 EPS, Q3 2023 earnings at $0.10 EPS, Q4 2023 earnings at $0.11 EPS, FY2023 earnings at $0.57 EPS, Q1 2024 earnings at $0.20 EPS, Q2 2024 earnings at $0.21 EPS and FY2024 earnings at $0.80 EPS.
Manitowoc (NYSE:MTW - Get Rating) last posted its earnings results on Thursday, August 4th. The industrial products company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.15). Manitowoc had a return on equity of 3.05% and a net margin of 0.77%. The firm had revenue of $497.20 million for the quarter, compared to analysts' expectations of $553.68 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The business's revenue for the quarter was up 7.2% on a year-over-year basis.
Several other brokerages also recently issued reports on MTW. UBS Group decreased their target price on Manitowoc from $19.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, July 21st. Credit Suisse Group set a $12.00 price objective on Manitowoc in a research report on Tuesday, July 19th. Wells Fargo & Company reduced their target price on shares of Manitowoc from $13.00 to $12.00 and set an "underweight" rating on the stock in a research report on Monday, August 8th. JPMorgan Chase & Co. dropped 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. Finally, Citigroup upped their price objective on Manitowoc to $12.00 in a research note on Monday, August 15th. One equities research 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 an average rating of "Hold" and a consensus target price of $13.07.Manitowoc Stock Performance
Shares of NYSE MTW opened at $9.38 on Friday. The firm's 50-day moving average price is $10.69 and its 200-day moving average price is $12.84. The company has a market cap of $329.97 million, a PE ratio of 23.45 and a beta of 2.06. The company has a quick ratio of 0.56, a current ratio of 1.74 and a debt-to-equity ratio of 0.58. Manitowoc has a 52-week low of $9.26 and a 52-week high of $23.99. Hedge Funds Weigh In On Manitowoc
Hedge funds have recently modified their holdings of the business. US Bancorp DE lifted its position in Manitowoc by 43.6% in the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company's stock valued at $57,000 after buying an additional 1,146 shares during the last quarter. KBC Group NV lifted its holdings 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 worth $94,000 after acquiring an additional 1,223 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Manitowoc during the 4th quarter worth approximately $25,000. SummerHaven Investment Management LLC increased its holdings in 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, UBS Asset Management Americas Inc. raised its position in Manitowoc by 3.7% in the second quarter. UBS Asset Management Americas Inc. now owns 50,396 shares of the industrial products company's stock valued at $531,000 after purchasing an additional 1,784 shares during the period. 75.77% of the stock is currently owned by hedge funds and other institutional investors. Insider Transactions at Manitowoc
In related news, CEO Aaron H. Ravenscroft purchased 3,000 shares of the business's stock in a transaction that occurred on Monday, August 22nd. The stock was purchased at an average price of $9.92 per share, with a total value of $29,760.00. Following the completion of the acquisition, the chief executive officer now owns 214,951 shares in the company, valued at $2,132,313.92. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Aaron H. Ravenscroft acquired 3,000 shares of the business's stock in a transaction that occurred on Monday, August 22nd. The stock was purchased at an average cost of $9.92 per share, for a total transaction of $29,760.00. Following the completion of the transaction, the chief executive officer now owns 214,951 shares in the company, valued at $2,132,313.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth W. Krueger bought 34,500 shares of Manitowoc stock in a transaction on Friday, June 10th. The shares were purchased at an average cost of $12.49 per share, for a total transaction of $430,905.00. Following the completion of the purchase, the director now directly owns 123,472 shares of the company's stock, valued at $1,542,165.28. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 43,619 shares of company stock valued at $528,569. Corporate insiders own 2.52% of the company's stock. 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.Further ReadingGet a free copy of the StockNews.com research report on Manitowoc (MTW)Lululemon Set To Soar Into SeptemberCould Nike Stock be Oversold, but Still Overvalued?Is Alcoa A Buy After Strong Q2 Results And More Share Buybacks?Will Royal Caribbean's Broadband Partnership Drive Revenue?Chip Gear Maker Entegris Has Potential, But Is It Buyable Now?
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