Manitowoc (NYSE:MTW) Issues Earnings Results

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.

About Manitowoc

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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