Manitowoc (MTW) Scheduled to Post Earnings on Wednesday

Manitowoc (NYSE:MTW) will be posting its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Manitowoc to post earnings of $0.10 per share for the quarter. Manitowoc has set its FY24 guidance at $0.45-0.90 EPS and its FY 2024 guidance at 0.450-0.900 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Manitowoc (NYSE:MTW) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.24). Manitowoc had a net margin of 0.40% and a return on equity of 4.28%. The business had revenue of $562.10 million during the quarter, compared to analysts’ expectations of $598.00 million. During the same quarter in the prior year, the firm earned $0.75 EPS. Manitowoc’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, analysts expect Manitowoc to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Manitowoc Price Performance

Shares of Manitowoc stock opened at $9.64 on Monday. The company has a quick ratio of 0.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.69. Manitowoc has a twelve month low of $8.85 and a twelve month high of $17.65. The business has a 50-day moving average price of $9.67 and a 200 day moving average price of $11.01. The firm has a market cap of $342.62 million, a PE ratio of 12.85 and a beta of 1.84.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MTW shares. Barclays cut their price target on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. StockNews.com lowered Manitowoc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their price objective on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.56.

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.