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

Manitowoc (NYSE:MTW) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04), Zacks reports. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%.

Manitowoc Trading Down 1.8 %

Shares of MTW traded down $0.18 during midday trading on Wednesday, hitting $9.79. 387,232 shares of the stock were exchanged, compared to its average volume of 237,042. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.60 and a current ratio of 1.97. The firm has a market cap of $343.92 million, a P/E ratio of -36.26 and a beta of 1.83. Manitowoc has a 52-week low of $8.30 and a 52-week high of $16.72. The stock has a fifty day simple moving average of $9.40 and a 200 day simple moving average of $9.82.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MTW shares. Robert W. Baird lowered their target price on Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Manitowoc has an average rating of “Hold” and an average target price of $12.47.

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.