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.
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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