Manitowoc (NYSE:MTW) Issues Earnings Results

Manitowoc (NYSE:MTW) issued its quarterly earnings data on Thursday. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.20, RTT News reports. Manitowoc had a negative net margin of 2.52% and a positive return on equity of 7.97%. The business had revenue of $448.00 million during the quarter, compared to the consensus estimate of $455.27 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year.

MTW stock traded up $2.29 during trading on Friday, reaching $16.21. The stock had a trading volume of 2,042,259 shares, compared to its average volume of 422,777. Manitowoc has a one year low of $10.49 and a one year high of $20.09. The company has a quick ratio of 0.70, a current ratio of 1.78 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $12.39 and its two-hundred day moving average is $14.99. The company has a market capitalization of $501.58 million, a price-to-earnings ratio of 25.33, a P/E/G ratio of 0.84 and a beta of 2.16.

A number of equities research analysts have issued reports on the stock. Citigroup downgraded shares of Manitowoc from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $16.00 to $10.00 in a research report on Tuesday, October 15th. ValuEngine downgraded shares of Manitowoc from a “sell” rating to a “strong sell” rating in a research report on Friday. OTR Global downgraded shares of Manitowoc from a “mixed” rating to a “negative” rating in a research report on Tuesday, September 10th. Barclays reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Manitowoc in a research report on Wednesday, October 16th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Manitowoc in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.50.

Manitowoc Company Profile

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 for Manitowoc (NYSE:MTW)

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