Equities Analysts Set Expectations for The Manitowoc Company, Inc.’s Q3 2024 Earnings (NYSE:MTW)

The Manitowoc Company, Inc. (NYSE:MTWFree Report) – Equities research analysts at Zacks Research cut their Q3 2024 earnings estimates for Manitowoc in a report released on Tuesday, March 26th. Zacks Research analyst R. Department now expects that the industrial products company will post earnings per share of $0.23 for the quarter, down from their previous forecast of $0.24. The consensus estimate for Manitowoc’s current full-year earnings is $1.29 per share. Zacks Research also issued estimates for Manitowoc’s Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.28 EPS and FY2025 earnings at $1.33 EPS.

A number of other research analysts have also recently weighed in on MTW. StockNews.com cut shares of Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Wells Fargo & Company lowered their target price 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 issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.29.

Check Out Our Latest Report on Manitowoc

Manitowoc Stock Performance

MTW stock opened at $14.14 on Thursday. Manitowoc has a one year low of $12.20 and a one year high of $19.81. The firm has a market cap of $501.69 million, a price-to-earnings ratio of 12.97 and a beta of 2.04. The firm has a 50-day simple moving average of $14.58 and a two-hundred day simple moving average of $14.72. 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 (NYSE:MTWGet Free Report) last released its quarterly 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). Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The company had revenue of $595.80 million during the quarter, compared to the consensus estimate of $583.90 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis.

Institutional Trading of Manitowoc

A number of hedge funds and other institutional investors have recently made changes to their positions in MTW. BlackRock Inc. grew its position in Manitowoc by 2.1% in the first quarter. BlackRock Inc. now owns 4,125,640 shares of the industrial products company’s stock worth $70,507,000 after acquiring an additional 84,143 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Manitowoc by 6.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the industrial products company’s stock valued at $41,008,000 after purchasing an additional 138,602 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Manitowoc by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 2,314,905 shares of the industrial products company’s stock worth $38,636,000 after purchasing an additional 107,414 shares during the period. Front Street Capital Management Inc. increased its position in shares of Manitowoc by 14.6% during the 1st quarter. Front Street Capital Management Inc. now owns 2,313,676 shares of the industrial products company’s stock worth $34,890,000 after purchasing an additional 295,092 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Manitowoc by 14.5% in the 1st quarter. Invesco Ltd. now owns 2,227,321 shares of the industrial products company’s stock valued at $33,588,000 after buying an additional 281,654 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.

Manitowoc Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Manitowoc (NYSE:MTW)

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