Manitowoc (NYSE:MTW) Posts Earnings Results, Beats Estimates By $0.11 EPS

by · The Markets Daily

Manitowoc (NYSE:MTW – Get Free Report) posted its earnings results on Tuesday. The industrial products company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.11, FiscalAI reports. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The company had revenue of $613.80 million during the quarter, compared to analysts’ expectations of $577.00 million. During the same period last year, the company posted $0.14 earnings per share.

Manitowoc Trading Up 0.7%

MTW stock traded up $0.16 during midday trading on Tuesday, reaching $23.74. 342,003 shares of the company traded hands, compared to its average volume of 309,400. The firm has a market capitalization of $856.04 million, a price-to-earnings ratio of 43.16 and a beta of 1.78. Manitowoc has a 52-week low of $9.94 and a 52-week high of $24.47. The business has a 50 day moving average of $21.63 and a 200-day moving average of $15.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 2.11.

Analysts Set New Price Targets

Several analysts have recently issued reports on MTW shares. Barclays reaffirmed an “underweight” rating and set a $16.00 price objective (up from $11.00) on shares of Manitowoc in a report on Monday, August 10th. Wall Street Zen cut shares of Manitowoc from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 25th. Wells Fargo & Company upped their price target on shares of Manitowoc from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings raised shares of Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Sell” and an average target price of $14.00.

View Our Latest Research Report on Manitowoc

About Manitowoc

(Get Free Report)

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and lifting equipment. Its product portfolio includes crawler cranes, tower cranes, mobile telescopic cranes, boom trucks and industrial cranes used in construction, infrastructure, energy and other heavy-lifting applications.

The company markets its equipment under brands including Manitowoc, Potain, Grove, National Crane and Shuttlelift. In addition to new equipment, Manitowoc provides replacement parts, technical support, maintenance services, operator training and other aftermarket solutions intended to support customers throughout the life of their cranes.

Founded in 1902, Manitowoc has historical roots in shipbuilding and marine engineering and later expanded into crane manufacturing and other industrial businesses.

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