Manitowoc (NYSE:MTW) Issues Earnings Results

Manitowoc (NYSE:MTW) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11, FiscalAI reports. The company had revenue of $613.80 million during the quarter, compared to the consensus estimate of $577.00 million. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS.

Manitowoc Trading Up 5.2%

Shares of NYSE MTW traded up $1.24 during midday trading on Wednesday, reaching $25.04. The stock had a trading volume of 375,561 shares, compared to its average volume of 309,559. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 2.11. The company’s 50 day moving average price is $21.71 and its 200 day moving average price is $15.65. Manitowoc has a twelve month low of $9.99 and a twelve month high of $25.22. The firm has a market cap of $902.80 million, a price-to-earnings ratio of 45.22 and a beta of 1.78.

Analysts Set New Price Targets

A number of equities analysts recently commented on MTW shares. Barclays reiterated an “underweight” rating and set a $16.00 price target (up from $11.00) on shares of Manitowoc in a report on Monday, August 10th. Wells Fargo & Company raised their price objective on Manitowoc from $10.00 to $12.00 and gave the company an “underweight” rating in a research report on Thursday, August 13th. Wall Street Zen cut shares of Manitowoc from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 25th. Finally, Weiss Ratings raised Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Sell” and an average target price of $14.00.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and lifting equipment. Its product portfolio includes crawler cranes, tower cranes, mobile telescopic cranes, boom trucks and industrial cranes used in construction, infrastructure, energy and other heavy-lifting applications.

The company markets its equipment under brands including Manitowoc, Potain, Grove, National Crane and Shuttlelift. In addition to new equipment, Manitowoc provides replacement parts, technical support, maintenance services, operator training and other aftermarket solutions intended to support customers throughout the life of their cranes.

Founded in 1902, Manitowoc has historical roots in shipbuilding and marine engineering and later expanded into crane manufacturing and other industrial businesses.