Manitowoc (NYSE:MTW) Releases Earnings Results, Misses Expectations By $0.04 EPS

Manitowoc (NYSE:MTW) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04), Briefing.com reports. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. The company had revenue of $495.10 million for the quarter, compared to analyst estimates of $496.93 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. Manitowoc’s revenue was down 2.6% on a year-over-year basis.

Manitowoc Trading Down 2.3 %

MTW stock traded down $0.28 during midday trading on Thursday, hitting $12.14. The stock had a trading volume of 38,737 shares, compared to its average volume of 251,508. The firm has a market cap of $430.78 million, a PE ratio of 11.40 and a beta of 2.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.83 and a quick ratio of 0.65. Manitowoc has a 12-month low of $11.16 and a 12-month high of $19.81. The company’s 50-day moving average price is $13.25 and its 200 day moving average price is $14.45.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MTW. StockNews.com downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Wells Fargo & Company cut their price objective on Manitowoc from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Barclays cut their price objective on Manitowoc from $15.00 to $12.00 and set an “underweight” rating for the company in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Manitowoc from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.83.

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.