Manitowoc (NYSE:MTW) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

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.

About Manitowoc

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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Earnings History for Manitowoc (NYSE:MTW)

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