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

Manitowoc (NYSE:MTW) released its 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 firm earned $0.46 EPS. The firm’s revenue was down 2.6% on a year-over-year basis.

Manitowoc Stock Performance

Shares of MTW stock opened at $12.63 on Wednesday. The firm has a 50-day moving average of $13.27 and a 200-day moving average of $14.46. The company has a market cap of $448.16 million, a P/E ratio of 11.59 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 one year low of $11.73 and a one year high of $19.81.

Analyst Ratings Changes

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