Zacks Research Research Analysts Decrease Earnings Estimates for The Manitowoc Company, Inc. (NYSE:MTW)

The Manitowoc Company, Inc. (NYSE:MTW) – Investment analysts at Zacks Research decreased their Q1 2024 earnings per share estimates for shares of Manitowoc in a report issued on Tuesday, March 26th. Zacks Research analyst R. Department now forecasts that the industrial products company will post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.22. The consensus estimate for Manitowoc’s current full-year earnings is $1.29 per share. Zacks Research also issued estimates for Manitowoc’s Q2 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.22 EPS, FY2024 earnings at $1.26 EPS, Q1 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.29 EPS and FY2026 earnings at $1.52 EPS.

Other analysts also recently issued reports about the company. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Wells Fargo & Company dropped their price target on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.29.

Manitowoc Price Performance

MTW opened at $14.14 on Wednesday. The firm has a market cap of $501.69 million, a P/E ratio of 12.97 and a beta of 2.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83. Manitowoc has a fifty-two week low of $12.20 and a fifty-two week high of $19.81. The firm has a 50-day moving average of $14.58 and a 200 day moving average of $14.72.

Manitowoc (NYSE:MTW) last posted its earnings results on Thursday, February 15th. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.14). The firm had revenue of $595.80 million for the quarter, compared to the consensus estimate of $583.90 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. Manitowoc’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS.

Institutional Investors Weigh In On Manitowoc

Several hedge funds have recently bought and sold shares of MTW. Qube Research & Technologies Ltd bought a new position in shares of Manitowoc during the 3rd quarter valued at about $38,000. Point72 Asset Management L.P. boosted its position in Manitowoc by 150.0% during the fourth quarter. Point72 Asset Management L.P. now owns 3,000 shares of the industrial products company’s stock valued at $50,000 after buying an additional 1,800 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Manitowoc by 104.8% during the third quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the industrial products company’s stock valued at $25,000 after buying an additional 1,681 shares during the last quarter. Castleview Partners LLC purchased a new position in Manitowoc in the 1st quarter worth approximately $61,000. Finally, US Bancorp DE boosted its stake in shares of Manitowoc by 43.6% during the first quarter. US Bancorp DE now owns 3,775 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,146 shares during the period. 78.66% of the stock is currently owned by institutional investors.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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.