Manitowoc (NYSE:MTW – Get Free Report) released its quarterly earnings data on Tuesday. The industrial products company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.11, FiscalAI reports. Manitowoc had a net margin of 0.87% and a return on equity of 3.86%. The company had revenue of $613.80 million during the quarter, compared to analyst estimates of $577.00 million. During the same quarter in the previous year, the business posted $0.14 EPS.
Manitowoc Stock Up 0.7%
Shares of MTW traded up $0.16 on Tuesday, hitting $23.74. 342,003 shares of the stock traded hands, compared to its average volume of 309,400. Manitowoc has a one year low of $9.94 and a one year high of $24.47. The business has a 50 day simple moving average of $21.63 and a 200 day simple moving average of $15.60. The company has a market capitalization of $856.04 million, a PE ratio of 43.16 and a beta of 1.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.75 and a current ratio of 2.11.
Analysts Set New Price Targets
Several brokerages have weighed in on MTW. Weiss Ratings upgraded Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Barclays reissued an “underweight” rating and set a $16.00 price objective (up from $11.00) on shares of Manitowoc in a report on Monday, August 10th. Wall Street Zen downgraded Manitowoc from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 25th. Finally, Wells Fargo & Company raised their target price on shares of Manitowoc from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of $14.00.
View Our Latest Stock Report on MTW
About Manitowoc
The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and lifting equipment. Its product portfolio includes crawler cranes, tower cranes, mobile telescopic cranes, boom trucks and industrial cranes used in construction, infrastructure, energy and other heavy-lifting applications.
The company markets its equipment under brands including Manitowoc, Potain, Grove, National Crane and Shuttlelift. In addition to new equipment, Manitowoc provides replacement parts, technical support, maintenance services, operator training and other aftermarket solutions intended to support customers throughout the life of their cranes.
Founded in 1902, Manitowoc has historical roots in shipbuilding and marine engineering and later expanded into crane manufacturing and other industrial businesses.
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