Manitowoc (NYSE:MTW) Issues Earnings Results, Misses Estimates By $0.18 EPS

Manitowoc (NYSE:MTW) announced its quarterly earnings results on Wednesday. The industrial products company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.18), Briefing.com reports. The firm had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.49 million. Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.41%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS.

Manitowoc Trading Down 3.6 %

Shares of Manitowoc stock traded down $0.34 during trading on Friday, hitting $9.00. The company’s stock had a trading volume of 169,232 shares, compared to its average volume of 268,749. The stock has a market cap of $316.08 million, a price-to-earnings ratio of -34.59 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. Manitowoc has a 52 week low of $8.50 and a 52 week high of $17.65. The stock has a 50-day moving average price of $9.68 and a two-hundred day moving average price of $10.94.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com lowered shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Barclays lowered their price target on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. 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 report on Monday, October 14th. Finally, The Goldman Sachs Group decreased their target price 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 investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, Manitowoc presently has an average rating of “Hold” and an average target price of $12.47.

About Manitowoc

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.