Manitowoc (NYSE:MTW) Announces Quarterly Earnings Results

Manitowoc (NYSE:MTW) released its earnings results on Thursday. The industrial products company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.20, RTT News reports. The firm 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 quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS.

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Shares of NYSE:MTW traded up $2.29 during trading on Friday, hitting $16.21. 2,042,259 shares of the company were exchanged, compared to its average volume of 422,777. The stock 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 fifty-two week low of $10.49 and a fifty-two week high of $20.09. The firm has a fifty day moving average price of $12.39 and a two-hundred day moving average price of $14.99. The company has a current ratio of 1.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.56.

Several research firms have commented on MTW. William Blair restated a “market perform” rating on shares of Manitowoc in a research note on Thursday. Zacks Investment Research lowered Manitowoc from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research report on Tuesday, August 13th. Goldman Sachs Group raised Manitowoc from a “sell” rating to a “buy” rating and boosted their price target for the stock from $12.00 to $18.00 in a research report on Friday. Barclays reaffirmed a “buy” rating and set a $15.00 price target on shares of Manitowoc in a research report on Wednesday, October 16th. Finally, Dougherty & Co assumed coverage on Manitowoc in a research report on Wednesday, August 28th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus 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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