Manitowoc (NYSE:MTW – Get Free Report) released its quarterly earnings data on Wednesday. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Stock Performance
NYSE MTW traded down $0.18 during trading hours on Wednesday, hitting $9.79. 387,232 shares of the stock were exchanged, compared to its average volume of 237,042. The company has a quick ratio of 0.60, a current ratio of 1.97 and a debt-to-equity ratio of 0.70. The company has a market cap of $343.92 million, a price-to-earnings ratio of -36.26 and a beta of 1.83. Manitowoc has a 12-month low of $8.30 and a 12-month high of $16.72. The stock has a 50-day moving average of $9.40 and a 200 day moving average of $9.82.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Manitowoc from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. StockNews.com upgraded Manitowoc from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, Manitowoc has an average rating of “Hold” and a consensus price target of $12.47.
Manitowoc Company Profile
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.
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