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

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

Manitowoc Stock Down 1.1 %

Shares of NYSE:MTW traded down $0.14 during trading on Friday, reaching $12.12. The stock had a trading volume of 80,995 shares, compared to its average volume of 253,676. The company has a market capitalization of $430.07 million, a P/E ratio of 11.24 and a beta of 2.05. The company has a current ratio of 1.83, a quick ratio of 0.65 and a debt-to-equity ratio of 0.59. The firm’s 50-day simple moving average is $13.21 and its 200 day simple moving average is $14.43. Manitowoc has a one year low of $11.16 and a one year high of $19.81.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MTW shares. Barclays dropped their target price 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. Wells Fargo & Company dropped their target price 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. JPMorgan Chase & Co. lowered their price target on shares of Manitowoc from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Finally, StockNews.com cut 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 issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.