Manitowoc (NYSE:MTW) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Manitowoc (NYSE:MTW) released its quarterly earnings results on Wednesday. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04), Zacks reports. Manitowoc had a negative net margin of 0.40% and a positive return on equity of 2.40%.

Manitowoc Trading Down 1.8 %

Shares of MTW stock traded down $0.18 on Wednesday, reaching $9.79. 300,474 shares of the company’s stock were exchanged, compared to its average volume of 235,794. The company’s fifty day simple moving average is $9.40 and its 200 day simple moving average is $9.82. Manitowoc has a 52 week low of $8.30 and a 52 week high of $16.72. The company has a current ratio of 1.97, a quick ratio of 0.60 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $343.92 million, a PE ratio of -36.26 and a beta of 1.83.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. StockNews.com raised Manitowoc from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Manitowoc has a consensus rating of “Hold” and an average price target of $12.47.

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.