Manitowoc (NYSE:MTW) issued its quarterly earnings results on Monday. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.17, MarketWatch Earnings reports. Manitowoc had a return on equity of 1.64% and a net margin of 2.13%. The firm had revenue of $495.30 million during the quarter, compared to analyst estimates of $458.03 million. During the same period last year, the company earned $0.20 EPS. Manitowoc’s quarterly revenue was up 25.5% compared to the same quarter last year.

Manitowoc traded down $0.85, reaching $23.51, on Wednesday, according to Marketbeat.com. 6,009 shares of the stock traded hands, compared to its average volume of 429,287. The company has a quick ratio of 0.72, a current ratio of 1.69 and a debt-to-equity ratio of 0.39. The firm has a market cap of $878.39 million, a PE ratio of -90.77 and a beta of 1.40. Manitowoc has a 12 month low of $22.99 and a 12 month high of $44.03.

In other news, CEO Barry Pennypacker bought 19,600 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was acquired at an average cost of $25.19 per share, with a total value of $493,724.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

A number of equities research analysts recently issued reports on MTW shares. Barclays reissued a “buy” rating and set a $35.00 price target on shares of Manitowoc in a research note on Thursday, April 19th. Seaport Global Securities reissued a “buy” rating on shares of Manitowoc in a research note on Wednesday, April 18th. Stifel Nicolaus decreased their price target on Manitowoc from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 9th. SunTrust Banks raised Manitowoc from a “hold” rating to a “buy” rating in a research note on Wednesday, June 6th. Finally, ValuEngine raised Manitowoc from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Manitowoc presently has an average rating of “Hold” and an average target price of $32.21.

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 the National Crane brand.

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Earnings History for Manitowoc (NYSE:MTW)

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