Manitowoc (MTW) Releases Earnings Results, Beats Expectations By $0.17 EPS
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.
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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