Manitowoc (NYSE:MTW – Get Free Report) announced its quarterly earnings results on Tuesday. The industrial products company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04), Briefing.com reports. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The company had revenue of $495.10 million during the quarter, compared to analyst estimates of $496.93 million. During the same quarter last year, the business earned $0.46 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year.
Manitowoc Stock Up 1.4 %
MTW traded up $0.18 on Tuesday, reaching $12.63. The company’s stock had a trading volume of 238,198 shares, compared to its average volume of 252,335. The stock has a market cap of $448.11 million, a price-to-earnings ratio of 11.59 and a beta of 2.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.83 and a quick ratio of 0.65. The business’s 50 day moving average is $13.28 and its 200 day moving average is $14.47. Manitowoc has a 1 year low of $11.73 and a 1 year high of $19.81.
Analyst Ratings Changes
Several brokerages have commented on MTW. Barclays dropped their price target on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research note on Monday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Wells Fargo & Company reduced their price target on shares of Manitowoc from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. Finally, StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, Manitowoc has a consensus rating of “Hold” and an average target price of $16.83.
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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