The Manitowoc Company, Inc. (NYSE:MTW) Expected to Post Q2 2023 Earnings of $0.22 Per Share

Posted by on May 20th, 2023

The Manitowoc Company, Inc. (NYSE:MTW – Get Rating) – Zacks Research raised their Q2 2023 earnings estimates for shares of Manitowoc in a report issued on Tuesday, May 16th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $0.22 per share for the quarter, up from their prior forecast of $0.20. The consensus estimate for Manitowoc’s current full-year earnings is $1.04 per share. Zacks Research also issued estimates for Manitowoc’s Q3 2023 earnings at $0.02 EPS, Q1 2024 earnings at $0.11 EPS, Q2 2024 earnings at $0.19 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $0.78 EPS, Q1 2025 earnings at $0.26 EPS and FY2025 earnings at $1.20 EPS.

MTW has been the subject of several other research reports. Robert W. Baird lifted their price target on shares of Manitowoc from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 21st. Citigroup lifted their price target on shares of Manitowoc from $11.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, March 6th. Barclays lifted their price target on shares of Manitowoc from $9.00 to $15.00 in a research report on Thursday, May 4th. Wells Fargo & Company upgraded shares of Manitowoc from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $14.00 to $17.00 in a research report on Monday, May 1st. Finally, The Goldman Sachs Group cut shares of Manitowoc from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $13.00 to $15.00 in a research report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.56.

Manitowoc Stock Down 1.4 %

Shares of NYSE:MTW opened at $15.63 on Friday. The firm has a market cap of $549.24 million, a P/E ratio of -4.96 and a beta of 2.04. The company has a quick ratio of 0.58, a current ratio of 1.75 and a debt-to-equity ratio of 0.67. Manitowoc has a 12 month low of $7.53 and a 12 month high of $20.20. The company’s 50-day moving average price is $15.88 and its two-hundred day moving average price is $13.36.

Manitowoc (NYSE:MTW – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.41. Manitowoc had a negative net margin of 5.29% and a positive return on equity of 8.98%. The firm had revenue of $508.30 million for the quarter, compared to analyst estimates of $479.97 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s revenue was up 10.7% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Manitowoc by 104.8% in 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 period. UBS Group AG boosted its holdings in shares of Manitowoc by 165.6% in the third quarter. UBS Group AG now owns 5,928 shares of the industrial products company’s stock valued at $46,000 after buying an additional 3,696 shares during the period. US Bancorp DE boosted its holdings in shares of 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 period. National Bank of Canada FI acquired a new position in shares of Manitowoc in the first quarter valued at approximately $60,000. Finally, Castleview Partners LLC acquired a new position in shares of Manitowoc in the first quarter valued at approximately $61,000. Institutional investors and hedge funds own 74.27% of the company’s stock.

About Manitowoc

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The Manitowoc Co, Inc provides engineered lifting solutions. The firm designs, manufactures, markets and supports product lines of mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, boom trucks and industrial cranes under the Grove, Potain, Manitowoc, National Crane, Shuttlelift and Manitowoc Crane Care brand names.

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Earnings History and Estimates for Manitowoc (NYSE:MTW)

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