Manitowoc Company, Inc. (MTW) - NYSE
  • Tue, Apr. 26, 9:16 AM
    | Tue, Apr. 26, 9:16 AM
  • Wed, Apr. 20, 2:57 PM
    • Manitowoc (MTW +5.4%) is upgraded to Buy from Hold with a $6 price target at Stifel following meetings with new CEO Barry Pennypacker at the Bauma Trade Show, leading the firm to feel encouraged by opportunities that are under the company's control.
    • Stifel says MTW has strong brand recognition and leading distribution, which the firm expects to become more apparent as operations improve, and says management indicated it is working on achieving double-digit operating margins.
    • MTW had announced plans in January to achieve cost savings of $35M-$45M over the next three years, which Stifel thinks could prove conservative, and has announced plans for further cost actions to right-size its business, including plant rationalization and headcount reduction, which could yield savings that catch investors by surprise.
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    | Wed, Apr. 20, 2:57 PM
  • Wed, Apr. 13, 2:24 PM
    • Investors should take profits on machinery stocks ahead of earnings, J.P. Morgan analysts say, as valuations are stretched after the sector outperformed the S&P in Q1 +17% vs. +1.3%, and investors likely will have little tolerance for weaker than expected performance.
    • The firm suggests avoiding Deere (DE +1.9%), Agco (AGCO +3.5%) and CNH Industrial (CNHI +3%) on weaker fundamentals with downside risk to the market outlooks for each region, and Paccar (PCAR +2.9%) on weaker NAFTA HD truck demand vs. its guide for a 12% decline in U.S. and Canada retail sales.
    • However, JPM likes Allison Transmission (ALSN +2.4%) heading into Q1 as it has underperformed peers while its exposure to HD Class 8 long haul is limited and MD orders are up 5% YTD.
    • Rated Neutral CAT, MTW, JOY, NAV, TEX, MCRN, PH, KMT, ETN, ITW.
    | Wed, Apr. 13, 2:24 PM | 14 Comments
  • Fri, Apr. 8, 5:40 PM
    | Fri, Apr. 8, 5:40 PM
  • Fri, Mar. 4, 12:46 PM
    | Fri, Mar. 4, 12:46 PM | 16 Comments
  • Fri, Mar. 4, 9:23 AM
    | Fri, Mar. 4, 9:23 AM | 10 Comments
  • Thu, Feb. 11, 10:17 AM
    • Manitowoc (MTW +4.7%) could be in sights of China's Sany Heavy Industry, sources tell dealReporter.
    • Rival Terex was also recently offered a buyout bid from the Far East (Zoomlion), in a move that could derail its merger with Konecranes.
    | Thu, Feb. 11, 10:17 AM | 2 Comments
  • Thu, Jan. 28, 5:16 PM
    • Manitowoc (NYSE:MTW): Q4 EPS of $0.43 beats by $0.22.
    • Revenue of $934.8M (-10.1% Y/Y) misses by $2.15M.
    • Shares +1.2% AH.
    | Thu, Jan. 28, 5:16 PM
  • Tue, Jan. 26, 2:12 PM
    • Terex (TEX +43%) shares resume trading after a halt, soaring higher as the company confirms receiving a $30/share takeover offer from Zoomlion of China.
    • TEX says it has entered into a confidentiality agreement with Zoomlion and is discussing the proposal, which values the company at ~$3.3B; TEX says it will not comment further until the board has completed its review.
    • TEX had entered into an agreement to merge with industrial crane maker Konecranes (OTC:KNCRF) and TEX's board says it continues to support the proposed deal.
    • Word of the proposal had been reported earlier by Bloomberg.
    • Peers Manitowoc (MTW +14.3%) and Joy Global (JOY +8.6%) also trade higher on the news.
    | Tue, Jan. 26, 2:12 PM | 7 Comments
  • Nov. 13, 2015, 12:28 PM
    • Manitowoc (MTW +3.1%) shares rack up strong gains as Jefferies analyst Stephen Volkmann raises his price target to $21 from $17 and says the company is getting no credit for its weak Cranes business.
    • "MTW will split food from crane in mid 1Q16, and the market at this point is basically valuing the crane business near zero, which we find absurd given the strong global franchise, leading brands and significant installed base supported by a broad and deep distribution capability," Volkmann writes.
    • MTW’s depressed crane business should generate at least $1.5B in revenue in 2016, according to the analyst.
    | Nov. 13, 2015, 12:28 PM
  • Oct. 15, 2015, 2:58 PM
    • Manitowoc (MTW -10.7%) is downgraded at Stifel and Baird following the company's worse than expected preliminary Q3 revenue guidance amid a "deteriorating" demand environment in its Cranes segment.
    • Stifel cuts MTW to Hold from Buy, noting the company has issued two preannouncements this year alone that have dampened the hopes for a crane recovery during this cycle; while the planned split of the foodservice and crane businesses should help support shares in the mid-teens, the firm now sees no identifiable demand catalyst on the near-term horizon.
    • Baird cuts shares to Neutral from Outperform with a $15 price target, lowered from $22, are crane fundamentals deteriorate more than expected, adding risk to the business separation as the foodservice unit likely will be saddled with more than 5x debt-to-EBITDA while risk aversion is creeping back into high yield markets.
    | Oct. 15, 2015, 2:58 PM | 4 Comments
  • Oct. 15, 2015, 12:46 PM
    | Oct. 15, 2015, 12:46 PM
  • Oct. 15, 2015, 9:14 AM
    • Terex (NYSE:TEX) -3.6% premarket after Manitowoc (NYSE:MTW) pre-announced lower than expected Q3 revenue following yesterday's close, pointing specifically to weakness in its cranes segment.
    • MTW said its cranes segment continues to be hurt by a deteriorating demand environment, particularly in the Middle East and Asia, and lower than expected tower and crawler crane shipments exacerbated the Q3 shortfall in revenues.
    • Other companies in the commercial equipment sector include Accuride (NYSE:ACW), Meritor (NYSE:MTOR), Deere (NYSE:DE) and Caterpillar (NYSE:CAT).
    • MTW -14.4% premarket.
    | Oct. 15, 2015, 9:14 AM
  • Oct. 15, 2015, 9:13 AM
    | Oct. 15, 2015, 9:13 AM
  • Oct. 14, 2015, 7:14 PM
    • Manitowoc (NYSE:MTW) -6.8% AH after issuing below consensus Q3 results,
    • MTW now sees Q3 revenues of ~$863M, -12.5% Y/Y and well below the $945M analyst consensus estimate, and earnings of ~$5M from $73M in Q3 2014.
    • MTW says improvement in its Foodservice business continues, but its Cranes segment continues to be hurt by a deteriorating demand environment, particularly in the Middle East and Asia; lower than expected tower and crawler crane shipments exacerbated Q3's revenue shortfall.
    • MTW expects Cranes full-year 2015 revenues to fall 15%-20% Y/Y, with operating margins in the low single-digits; it reaffirms guidance for Foodservice revenues to come in roughly flat for the full year, with operating margins in the mid-teens.
    | Oct. 14, 2015, 7:14 PM | 2 Comments
  • Jul. 27, 2015, 12:29 PM
    • Goldman Sachs analyst Jerry Revich cuts his view on the machinery sector to Cautious from Neutral given a continued challenging environment, and downgrades Manitowoc (MTW -2.8%), Terex (TEX -3.6%) and Navistar (NAV -1.2%) to Sell from Neutral.
    • Revich notes a challenging crane demand outlook due to a challenging outlook for commodity capital expenditure, a slowing infrastructure investment for commodity export regions, and high crane capital stock following a 10-plus year build-out cycle.
    • On NAV, the company's debt, pension, warranty and truck trade-ins are "high and rising" amid softening used truck prices and U.S. trucking rates, which could push out its margin recovery story, Revich writes.
    • Deere (DE -0.7%) and AGCO (AGCO -0.6%) are upgraded to Neutral from Sell even as the analyst is negative on the end market outlook for agriculture equipment.
    | Jul. 27, 2015, 12:29 PM | 5 Comments
Company Description
Manitowoc Co., Inc. produces capital goods. It provides crawler cranes, tower cranes and mobile cranes for the heavy construction industry and also manufactures commercial foodservice equipment. The company operates through two business segments: Cranes and Related Products, and Foodservice... More
Industry: Farm & Construction Machinery
Country: United States