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

Manitowoc (NYSE:MTW) issued its quarterly earnings data 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 business had revenue of $524.80 million during the quarter, compared to the consensus estimate of $516.49 million. Manitowoc had a return on equity of 4.28% and a net margin of 0.40%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS.

Manitowoc Trading Down 12.2 %

Shares of MTW traded down $1.26 during trading on Thursday, reaching $9.11. 430,165 shares of the company traded hands, compared to its average volume of 267,066. The stock has a 50-day simple moving average of $9.69 and a 200-day simple moving average of $10.95. The company has a quick ratio of 0.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.69. Manitowoc has a twelve month low of $8.50 and a twelve month high of $17.65. The stock has a market cap of $323.78 million, a PE ratio of 11.93 and a beta of 1.84.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MTW. JPMorgan Chase & Co. upped their price objective on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barclays decreased their price target on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. StockNews.com downgraded shares of Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group decreased their target price on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research report on Friday, August 9th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.56.

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.