Manitowoc (NYSE:MTW) released its earnings results on Thursday. The industrial products company reported $0.54 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $455.27 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year.
Shares of Manitowoc stock traded up $2.29 during trading hours on Friday, reaching $16.21. The stock had a trading volume of 2,042,259 shares, compared to its average volume of 422,777. The firm has a 50 day simple moving average of $12.39 and a two-hundred day simple moving average of $14.99. The firm has a market capitalization of $501.58 million, a price-to-earnings ratio of 25.33, a P/E/G ratio of 0.84 and a beta of 2.16. The company has a current ratio of 1.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.56. Manitowoc has a 1 year low of $10.49 and a 1 year high of $20.09.
Several research firms recently weighed in on MTW. Citigroup downgraded Manitowoc from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $16.00 to $10.00 in a research report on Tuesday, October 15th. Dougherty & Co initiated coverage on Manitowoc in a research report on Wednesday, August 28th. They set a “neutral” rating on the stock. Royal Bank of Canada restated a “hold” rating and issued a $20.00 price objective on shares of Manitowoc in a report on Tuesday, August 13th. Barclays restated a “buy” rating and issued a $15.00 price objective on shares of Manitowoc in a report on Wednesday, October 16th. Finally, Goldman Sachs Group upgraded Manitowoc from a “sell” rating to a “buy” rating and raised their price objective for the stock from $12.00 to $18.00 in a report on Friday. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. 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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