Manitowoc (NYSE:MTW) released its earnings results on Thursday. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.20, RTT News reports. The business had revenue of $448.00 million during the quarter, compared to the consensus estimate of $455.27 million. Manitowoc had a negative net margin of 2.52% and a positive return on equity of 7.97%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS.
Shares of MTW stock traded up $2.29 during trading hours on Friday, hitting $16.21. 2,042,259 shares of the company were exchanged, compared to its average volume of 422,777. The firm has a market cap of $501.58 million, a P/E 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 company has a debt-to-equity ratio of 0.56, a quick ratio of 0.70 and a current ratio of 1.78. 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 subject of a number of recent analyst reports. ValuEngine downgraded shares of Manitowoc from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research downgraded shares of 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. Goldman Sachs Group raised shares of Manitowoc from a “sell” rating to a “buy” rating and increased their target price for the company from $12.00 to $18.00 in a research report on Friday. OTR Global downgraded shares of Manitowoc from a “mixed” rating to a “negative” rating in a research report on Tuesday, September 10th. Finally, Shore Capital reissued a “buy” rating on shares of Manitowoc in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus 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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