Manitowoc (NYSE:MTW) Posts Earnings Results, Beats Expectations By $0.20 EPS

Manitowoc (NYSE:MTW) announced its earnings results on Thursday. The industrial products company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.20, RTT News reports. Manitowoc had a positive return on equity of 7.97% and a negative net margin of 2.52%. The company had revenue of $448.00 million during the quarter, compared to analyst estimates of $455.27 million. During the same period last year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year.

MTW stock traded up $2.29 during midday trading on Friday, reaching $16.21. The stock had a trading volume of 2,042,259 shares, compared to its average volume of 422,777. The business has a fifty day simple moving average of $12.39 and a two-hundred day simple moving average of $14.99. The company has a quick ratio of 0.70, a current ratio of 1.78 and a debt-to-equity ratio of 0.56. The firm has a market cap of $501.58 million, a price-to-earnings ratio of 25.33, a PEG ratio of 0.84 and a beta of 2.16. Manitowoc has a twelve month low of $10.49 and a twelve month high of $20.09.

A number of analysts have recently weighed in on MTW shares. Barclays restated a “buy” rating and issued a $15.00 target price on shares of Manitowoc in a research note on Wednesday, October 16th. William Blair restated a “market perform” rating on shares of Manitowoc in a research note on Thursday. ValuEngine lowered Manitowoc from a “sell” rating to a “strong sell” rating in a research note on Friday. OTR Global lowered Manitowoc from a “mixed” rating to a “negative” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $20.00 price objective on shares of Manitowoc in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus 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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