Manitowoc (MTW) Releases Quarterly Earnings, Misses Estimates By $0.03 EPS
Manitowoc (NYSE:MTW) posted its quarterly earnings results on Thursday. The company reported $0.17 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.03, American Banking & Market News reports. The company had revenue of $850.00 million for the quarter, compared to the consensus estimate of $913.66 million. During the same quarter last year, the company posted $0.09 earnings per share. Manitowoc’s revenue was down 5.0% compared to the same quarter last year.
A number of research firms have recently commented on MTW. Analysts at Jefferies Group downgraded shares of Manitowoc from a “hold” rating to an “underperform” rating in a research note on Monday, March 24th. They now have a $24.00 price target on the stock. On the ratings front, analysts at Zacks upgraded shares of Manitowoc from a “neutral” rating to an “outperform” rating in a research note on Friday, March 7th. They now have a $37.00 price target on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of Manitowoc in a research note on Thursday, February 20th. They set a “hold” rating and a $31.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $29.21.
Manitowoc (NYSE:MTW) traded up 1.57% during mid-day trading on Thursday, hitting $32.28. The stock had a trading volume of 5,318,711 shares. Manitowoc has a one year low of $16.18 and a one year high of $32.80. The stock’s 50-day moving average is $31.07 and its 200-day moving average is $25.50. The company’s market cap is $4.331 billion.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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