Manitowoc (NYSE:MTW) Issues Earnings Results, Misses Estimates By $0.14 EPS

Manitowoc (NYSE:MTW) posted its quarterly earnings data on Wednesday. The industrial products company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.14), Briefing.com reports. The firm had revenue of $524.80 million for the quarter, compared to analysts’ expectations of $516.49 million. Manitowoc had a positive return on equity of 2.41% and a negative net margin of 0.40%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share.

Manitowoc Trading Down 4.7 %

Shares of MTW stock opened at $8.90 on Friday. Manitowoc has a 1 year low of $8.50 and a 1 year high of $17.65. The firm’s fifty day simple moving average is $9.66 and its 200 day simple moving average is $10.91. The company has a quick ratio of 0.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.69.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Manitowoc from $13.00 to $11.30 and set a “sell” rating on the stock in a research report on Friday, August 9th. StockNews.com raised shares of Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday. Barclays reduced their price objective on Manitowoc from $12.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Manitowoc from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Robert W. Baird reduced their price target on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.