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Manitowoc (NYSE:MTW - Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $0.650-$1.350 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.380. The company issued revenue guidance of $2 billion-$2.20 billion, compared to the consensus revenue estimate of $2.01 billion.
Several brokerages recently commented on MTW. Credit Suisse Group cut their price target on shares of Manitowoc from $23.00 to $22.00 and set a neutral rating for the company in a report on Wednesday, December 15th. Zacks Investment Research lowered shares of Manitowoc from a hold rating to a sell rating and set a $24.00 target price for the company. in a report on Tuesday, November 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $25.33.
Manitowoc stock opened at $15.97 on Monday. Manitowoc has a 52-week low of $15.28 and a 52-week high of $28.33. The firm has a market capitalization of $559.84 million, a price-to-earnings ratio of 53.24 and a beta of 2.21. The company has a fifty day simple moving average of $17.95 and a 200-day simple moving average of $20.03. The company has a quick ratio of 0.70, a current ratio of 1.81 and a debt-to-equity ratio of 0.60.
Manitowoc (NYSE:MTW - Get Rating) last announced its quarterly earnings results on Sunday, February 20th. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.24. Manitowoc had a net margin of 0.64% and a return on equity of 4.71%. During the same quarter in the previous year, the business posted $0.19 EPS. On average, research analysts anticipate that Manitowoc will post 1.14 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC boosted its position in shares of Manitowoc by 2.6% during the 4th quarter. LPL Financial LLC now owns 39,108 shares of the industrial products company's stock valued at $727,000 after acquiring an additional 979 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Manitowoc by 1.2% during the 4th quarter. Deutsche Bank AG now owns 80,266 shares of the industrial products company's stock valued at $1,493,000 after acquiring an additional 986 shares during the last quarter. California State Teachers Retirement System lifted its position in Manitowoc by 2.7% in the fourth quarter. California State Teachers Retirement System now owns 48,113 shares of the industrial products company's stock valued at $894,000 after buying an additional 1,253 shares during the last quarter. Citigroup Inc. lifted its position in Manitowoc by 16.4% in the fourth quarter. Citigroup Inc. now owns 14,546 shares of the industrial products company's stock valued at $270,000 after buying an additional 2,046 shares during the last quarter. Finally, State Street Corp lifted its position in Manitowoc by 0.3% in the fourth quarter. State Street Corp now owns 686,190 shares of the industrial products company's stock valued at $12,756,000 after buying an additional 2,166 shares during the last quarter. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
Manitowoc Company Profile (Get Rating)
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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