Manitowoc Company (MTW) Releases Quarterly Earnings Results
Manitowoc Company (NYSE:MTW) announced its earnings results on Wednesday. The company reported $0.35 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.42 by $0.07, StockRatingsNetwork reports. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted $0.45 earnings per share. Manitowoc Company’s revenue was down 2.3% compared to the same quarter last year.
Shares of Manitowoc Company (NYSE:MTW) traded up 1.46% on Wednesday, hitting $30.64. The stock had a trading volume of 2,986,576 shares. Manitowoc Company has a 1-year low of $18.12 and a 1-year high of $33.50. The stock’s 50-day moving average is $30.84 and its 200-day moving average is $29.53. The company has a market cap of $4.141 billion and a price-to-earnings ratio of 33.33.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of Manitowoc Company from $36.00 to $38.00 in a research note on Tuesday, July 15th. On a related note, analysts at Barclays reiterated an “overweight” rating on shares of Manitowoc Company in a research note on Monday, July 7th. They now have a $36.00 price target on the stock, up previously from $32.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Manitowoc Company in a research note on Monday, June 30th. They now have a $39.00 price target on the stock, up previously from $34.00. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Manitowoc Company has an average rating of “Hold” and an average price target of $30.93.
The Manitowoc Company, Inc (NYSE:MTW) is a multi-industry, capital goods manufacturer.
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