Manitowoc (NYSE:MTW) Announces Earnings Results

Manitowoc (NYSE:MTW) posted its quarterly 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. The business had revenue of $495.10 million for the quarter, compared to the consensus estimate of $496.93 million. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. Manitowoc’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share.

Manitowoc Trading Up 1.4 %

MTW opened at $12.63 on Wednesday. The firm has a market cap of $448.16 million, a P/E ratio of 11.59 and a beta of 2.05. Manitowoc has a 12 month low of $11.73 and a 12 month high of $19.81. The company has a current ratio of 1.83, a quick ratio of 0.65 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $13.27 and a 200 day moving average of $14.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com cut Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Wells Fargo & Company decreased their price target on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. cut their price objective on Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Finally, Barclays cut their price objective on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.83.

About Manitowoc

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.