Manitowoc (NYSE:MTW) announced its earnings results on Thursday. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11), Bloomberg Earnings reports. The firm had revenue of $481.50 million during the quarter, compared to analysts’ expectations of $423.27 million. Manitowoc had a negative net margin of 4.01% and a negative return on equity of 6.17%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.24) EPS.
Manitowoc (NYSE MTW) traded down $2.28 during trading on Thursday, hitting $34.39. The stock had a trading volume of 872,260 shares, compared to its average volume of 600,647. Manitowoc has a 1-year low of $21.00 and a 1-year high of $44.03. The company has a quick ratio of 0.67, a current ratio of 1.76 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $1,210.00, a price-to-earnings ratio of -25.10 and a beta of 1.46.
A number of analysts have issued reports on MTW shares. SunTrust Banks reissued a “hold” rating and issued a $28.00 target price on shares of Manitowoc in a research report on Friday, October 27th. Jefferies Group reissued a “buy” rating on shares of Manitowoc in a research report on Friday, November 10th. Zacks Investment Research lowered Manitowoc from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Royal Bank of Canada raised Manitowoc from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $30.00 to $48.00 in a research report on Wednesday, November 1st. Finally, Citigroup boosted their target price on Manitowoc from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.64.
The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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