Jefferies Financial Group Comments on Manitowoc Company Inc’s Q1 2020 Earnings (NYSE:MTW)

Manitowoc Company Inc (NYSE:MTW) – Equities researchers at Jefferies Financial Group issued their Q1 2020 earnings per share (EPS) estimates for shares of Manitowoc in a report released on Sunday, November 10th. Jefferies Financial Group analyst S. Volkmann anticipates that the industrial products company will post earnings of ($0.05) per share for the quarter. Jefferies Financial Group also issued estimates for Manitowoc’s Q2 2020 earnings at $0.70 EPS and Q3 2020 earnings at $0.65 EPS.

Manitowoc (NYSE:MTW) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.20. The business had revenue of $448.00 million during the quarter, compared to analyst estimates of $455.27 million. Manitowoc had a positive return on equity of 10.22% and a negative net margin of 2.17%. Manitowoc’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS.

A number of other research analysts also recently issued reports on the company. Citigroup downgraded Manitowoc from a “neutral” rating to a “sell” rating and cut their price target for the company from $16.00 to $10.00 in a report on Tuesday, October 15th. OTR Global downgraded Manitowoc from a “mixed” rating to a “negative” rating in a report on Tuesday, September 10th. Robert W. Baird downgraded Manitowoc from an “outperform” rating to a “neutral” rating and cut their price target for the company from $22.00 to $19.00 in a report on Monday, August 12th. Zacks Investment Research upgraded Manitowoc from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a report on Tuesday. Finally, Shore Capital reiterated a “buy” rating on shares of Manitowoc in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Manitowoc has an average rating of “Hold” and a consensus price target of $16.83.

Shares of NYSE:MTW opened at $15.63 on Wednesday. Manitowoc has a 12-month low of $10.49 and a 12-month high of $20.09. The business’s fifty day simple moving average is $12.62 and its 200-day simple moving average is $14.93. The company has a market capitalization of $561.36 million, a PE ratio of 24.42, a P/E/G ratio of 0.95 and a beta of 2.16. The company has a current ratio of 1.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.56.

Several large investors have recently made changes to their positions in MTW. Nuveen Asset Management LLC purchased a new position in shares of Manitowoc in the 2nd quarter valued at $30,401,000. Invesco Ltd. grew its stake in Manitowoc by 591.2% during the 2nd quarter. Invesco Ltd. now owns 595,125 shares of the industrial products company’s stock worth $10,594,000 after buying an additional 509,025 shares during the last quarter. Front Street Capital Management Inc. grew its stake in Manitowoc by 62.9% during the 2nd quarter. Front Street Capital Management Inc. now owns 1,065,422 shares of the industrial products company’s stock worth $18,967,000 after buying an additional 411,197 shares during the last quarter. Bank of America Corp DE grew its stake in Manitowoc by 205.6% during the 2nd quarter. Bank of America Corp DE now owns 276,574 shares of the industrial products company’s stock worth $4,923,000 after buying an additional 186,070 shares during the last quarter. Finally, Price Capital Management Inc. purchased a new position in Manitowoc during the 2nd quarter worth $2,808,000. Institutional investors and hedge funds own 78.67% of the company’s stock.

About Manitowoc

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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