Manitowoc (NYSE:MTW) released its quarterly earnings results on Thursday. The industrial products company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $448.00 million during the quarter, compared to analysts’ expectations of $455.27 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year.
MTW stock traded up $2.29 on Friday, reaching $16.21. 2,042,259 shares of the company’s stock were exchanged, compared to its average volume of 422,777. The stock has a fifty day moving average of $12.39 and a 200-day moving average of $14.99. Manitowoc has a twelve month low of $10.49 and a twelve month high of $20.09. The firm has a market cap of $501.58 million, a PE ratio of 25.33, a P/E/G ratio of 0.84 and a beta of 2.16. The company has a quick ratio of 0.70, a current ratio of 1.78 and a debt-to-equity ratio of 0.56.
Several research firms have recently commented on MTW. ValuEngine cut Manitowoc from a “sell” rating to a “strong sell” rating in a research note on Friday. OTR Global cut Manitowoc from a “mixed” rating to a “negative” rating in a research note on Tuesday, September 10th. Robert W. Baird cut Manitowoc from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Monday, August 12th. Zacks Investment Research cut Manitowoc from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $20.00 price objective on shares of Manitowoc in a report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price 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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