Manitowoc (NYSE:MTW) Releases Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Manitowoc (NYSE:MTW) announced its quarterly earnings results on Thursday. The industrial products company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.20, RTT News reports. Manitowoc had a positive return on equity of 7.97% and a negative net margin of 2.52%. The firm had revenue of $448.00 million during the quarter, compared to analyst estimates of $455.27 million. During the same quarter in the previous year, the business earned $0.20 EPS. Manitowoc’s revenue for the quarter was down .4% compared to the same quarter last year.

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MTW stock traded up $2.29 during trading on Friday, hitting $16.21. The stock had a trading volume of 2,042,259 shares, compared to its average volume of 422,777. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.78 and a quick ratio of 0.70. Manitowoc has a twelve month low of $10.49 and a twelve month high of $20.09. The stock has a market capitalization of $501.58 million, a P/E ratio of 25.33, a PEG ratio of 0.84 and a beta of 2.16. The company’s 50-day moving average price is $12.39 and its two-hundred day moving average price is $14.99.

Several brokerages recently weighed in on MTW. ValuEngine lowered Manitowoc from a “sell” rating to a “strong sell” rating in a research note on Friday. Shore Capital restated a “buy” rating on shares of Manitowoc in a research note on Monday, October 21st. Goldman Sachs Group upgraded Manitowoc from a “sell” rating to a “buy” rating and lifted their price target for the company from $12.00 to $18.00 in a research note on Friday. Citigroup lowered Manitowoc from a “neutral” rating to a “sell” rating and cut their price target for the company from $16.00 to $10.00 in a research note on Tuesday, October 15th. Finally, Dougherty & Co initiated coverage on Manitowoc in a report on Wednesday, August 28th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.50.

About Manitowoc

The Manitowoc Company, Inc provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. 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 telescopic cranes under the Grove brand; and a line of hydraulically powered telescopic boom trucks under the National Crane brand.

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Earnings History for Manitowoc (NYSE:MTW)

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