Manitowoc (NYSE:MTW) Announces Quarterly Earnings Results

Manitowoc (NYSE:MTW) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.11, FiscalAI reports. Manitowoc had a return on equity of 3.86% and a net margin of 0.87%. The firm had revenue of $613.80 million for the quarter, compared to analysts’ expectations of $577.00 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Manitowoc’s revenue for the quarter was up 13.8% compared to the same quarter last year.

Manitowoc Stock Performance

Shares of NYSE MTW traded up $0.16 during mid-day trading on Tuesday, hitting $23.74. The company had a trading volume of 342,003 shares, compared to its average volume of 309,400. Manitowoc has a 12 month low of $9.94 and a 12 month high of $24.47. The stock has a market cap of $856.04 million, a price-to-earnings ratio of 43.16 and a beta of 1.78. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 0.75. The firm’s 50 day simple moving average is $21.63 and its two-hundred day simple moving average is $15.60.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MTW. Weiss Ratings upgraded Manitowoc from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Wall Street Zen cut Manitowoc from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 25th. Wells Fargo & Company raised their price objective on Manitowoc from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Thursday, August 13th. Finally, Barclays reaffirmed an “underweight” rating and issued a $16.00 price objective (up from $11.00) on shares of Manitowoc in a report on Monday, August 10th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell” and an average price target of $14.00.

About Manitowoc

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of cranes and lifting equipment. Its product portfolio includes crawler cranes, tower cranes, mobile telescopic cranes, boom trucks and industrial cranes used in construction, infrastructure, energy and other heavy-lifting applications.

The company markets its equipment under brands including Manitowoc, Potain, Grove, National Crane and Shuttlelift. In addition to new equipment, Manitowoc provides replacement parts, technical support, maintenance services, operator training and other aftermarket solutions intended to support customers throughout the life of their cranes.

Founded in 1902, Manitowoc has historical roots in shipbuilding and marine engineering and later expanded into crane manufacturing and other industrial businesses.