Manitowoc (NYSE:MTW) Issues Quarterly Earnings Results

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

Manitowoc Price Performance

Shares of MTW stock traded up $0.18 during trading hours on Tuesday, hitting $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 of $13.28 and a two-hundred day moving average of $14.47. Manitowoc has a fifty-two week low of $11.73 and a fifty-two week high of $19.81. The firm has a market cap of $448.11 million, a P/E ratio of 11.59 and a beta of 2.05. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59.

Analyst Ratings Changes

A number of research firms recently issued reports on MTW. Wells Fargo & Company decreased their target price on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Barclays decreased their price target on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Finally, StockNews.com cut shares of Manitowoc from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.