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.
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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