Manitowoc (NYSE:MTW) Posts Earnings Results, Misses Estimates By $0.04 EPS

Manitowoc (NYSE:MTW) posted its 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. The business had revenue of $495.10 million for the quarter, compared to analyst estimates of $496.93 million. Manitowoc had a return on equity of 9.44% and a net margin of 1.76%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share.

Manitowoc Trading Down 1.1 %

Manitowoc stock traded down $0.14 during trading hours on Friday, hitting $12.12. The stock had a trading volume of 80,995 shares, compared to its average volume of 253,676. The company has a quick ratio of 0.65, a current ratio of 1.83 and a debt-to-equity ratio of 0.59. The stock has a market cap of $430.07 million, a price-to-earnings ratio of 11.24 and a beta of 2.05. Manitowoc has a one year low of $11.16 and a one year high of $19.81. The business’s 50 day simple moving average is $13.21 and its 200-day simple moving average is $14.43.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MTW. JPMorgan Chase & Co. decreased their target price on Manitowoc from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Wells Fargo & Company dropped their price objective on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Barclays dropped their price objective on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, Manitowoc currently has an average rating of “Hold” and an average price target of $16.83.

Manitowoc Company Profile

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.