Manitowoc (NYSE:MTW) Announces Quarterly Earnings Results

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

Shares of Manitowoc stock traded up $2.29 during trading hours on Friday, hitting $16.21. 2,042,259 shares of the company’s stock traded hands, compared to its average volume of 422,777. Manitowoc has a 12-month low of $10.49 and a 12-month high of $20.09. The stock has a market capitalization of $501.58 million, a price-to-earnings ratio of 25.33, a PEG ratio of 0.84 and a beta of 2.16. The company has a fifty day simple moving average of $12.39 and a 200-day simple moving average of $14.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.78 and a quick ratio of 0.70.

Several equities analysts have weighed in on MTW shares. ValuEngine cut Manitowoc from a “sell” rating to a “strong sell” rating in a research note on Friday. Dougherty & Co started coverage on Manitowoc in a research note on Wednesday, August 28th. They set a “neutral” rating on the stock. OTR Global cut Manitowoc from a “mixed” rating to a “negative” rating in a research note on Tuesday, September 10th. Zacks Investment Research lowered Manitowoc from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research report on Tuesday, August 13th. Finally, Barclays reaffirmed a “buy” rating and set a $15.00 target price on shares of Manitowoc in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target 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.

Further Reading: Net Income

Earnings History for Manitowoc (NYSE:MTW)

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