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

Manitowoc (NYSE:MTWGet 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.

Get Our Latest Analysis on MTW

About Manitowoc

(Get Free Report)

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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Earnings History for Manitowoc (NYSE:MTW)

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