Manitowoc (NYSE:MTW) Announces Quarterly Earnings Results

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

Shares of Manitowoc stock traded up $2.29 during trading on Friday, reaching $16.21. The company’s stock had a trading volume of 2,042,259 shares, compared to its average volume of 422,777. 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 has a market cap 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. Manitowoc has a 1-year low of $10.49 and a 1-year high of $20.09. The company has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $14.99.

MTW has been the topic of several recent research reports. Dougherty & Co initiated coverage on Manitowoc in a research report on Wednesday, August 28th. They set a “neutral” rating on the stock. Barclays reaffirmed a “buy” rating and set a $15.00 target price on shares of Manitowoc in a research report on Wednesday, October 16th. William Blair reaffirmed a “market perform” rating on shares of Manitowoc in a research report on Thursday. ValuEngine cut Manitowoc from a “sell” rating to a “strong sell” rating in a research report on Friday. Finally, Robert W. Baird cut Manitowoc from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average 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.

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Earnings History for Manitowoc (NYSE:MTW)

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