Manitowoc (NYSE:MTW – Get Free Report) issued its earnings results 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. Manitowoc had a net margin of 0.40% and a return on equity of 4.28%. The firm had revenue of $524.80 million during the quarter, compared to analysts’ expectations of $516.49 million. During the same quarter in the prior year, the company earned $0.22 EPS. Manitowoc’s quarterly revenue was up .7% on a year-over-year basis.
Manitowoc Price Performance
Shares of NYSE:MTW traded down $1.09 during trading on Thursday, reaching $9.28. 535,786 shares of the company’s stock traded hands, compared to its average volume of 267,566. 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 fifty-two week low of $8.50 and a fifty-two week high of $17.65. The company has a 50-day simple moving average of $9.69 and a 200-day simple moving average of $10.95. The firm has a market cap of $329.82 million, a PE ratio of 12.15 and a beta of 1.84.
Analyst Ratings Changes
A number of research firms have recently weighed in on MTW. The Goldman Sachs Group cut their price objective on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research note on Friday, August 9th. StockNews.com downgraded Manitowoc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Barclays dropped their target price on Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.56.
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.
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