Manitowoc (NYSE:MTW) Announces Earnings Results

Manitowoc (NYSE:MTW) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04), Briefing.com reports. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The business had revenue of $495.10 million during the quarter, compared to analyst estimates of $496.93 million. During the same period in the prior year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year.

Manitowoc Stock Performance

Shares of NYSE MTW traded up $0.18 during mid-day trading on Tuesday, reaching $12.63. 238,198 shares of the company’s stock were exchanged, compared to its average volume of 252,335. The firm has a 50-day moving average price of $13.28 and a two-hundred day moving average price of $14.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.83 and a quick ratio of 0.65. The firm has a market capitalization of $448.11 million, a price-to-earnings ratio of 11.59 and a beta of 2.05. Manitowoc has a 52 week low of $11.73 and a 52 week high of $19.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MTW shares. Barclays decreased their price target on shares of Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company cut their price target on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Manitowoc currently has an average rating of “Hold” and an average price target of $16.83.

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.