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.
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.
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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