Manitowoc (MTW) to Release Quarterly Earnings on Wednesday

Manitowoc (NYSE:MTW) is scheduled to announce its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.10 per share for the quarter. Manitowoc has set its FY24 guidance at $0.45-0.90 EPS and its FY 2024 guidance at 0.450-0.900 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Manitowoc (NYSE:MTW) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.24). Manitowoc had a net margin of 0.40% and a return on equity of 4.28%. The firm had revenue of $562.10 million during the quarter, compared to the consensus estimate of $598.00 million. During the same period in the prior year, the business posted $0.75 earnings per share. Manitowoc’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, analysts expect Manitowoc to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Manitowoc Stock Performance

Shares of MTW stock opened at $9.76 on Wednesday. The company has a fifty day moving average price of $9.66 and a two-hundred day moving average price of $11.12. Manitowoc has a one year low of $8.85 and a one year high of $17.65. The stock has a market cap of $346.70 million, a P/E ratio of 13.01 and a beta of 1.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.89 and a quick ratio of 0.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. StockNews.com downgraded Manitowoc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Barclays dropped their price target on Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Finally, The Goldman Sachs Group decreased their price objective on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.56.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.