Manitowoc Company, Inc. (The) (MTW) Posts Earnings Results, Beats Expectations By $0.09 EPS
Manitowoc Company, Inc. (The) (NYSE:MTW) released its quarterly earnings results on Monday. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09, RTT News reports. The business had revenue of $394.60 million for the quarter, compared to the consensus estimate of $396.44 million. Manitowoc Company, Inc. (The) had a negative net margin of 14.37% and a negative return on equity of 14.18%. The business’s revenue was down 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS.
Shares of Manitowoc Company, Inc. (NYSE MTW) traded up 2.63% during midday trading on Monday, reaching $7.41. 3,317,346 shares of the company traded hands. The company’s 50 day moving average is $5.85 and its 200-day moving average is $5.99. Manitowoc Company, Inc. has a 12 month low of $3.65 and a 12 month high of $7.57. The stock’s market capitalization is $1.04 billion.
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird raised shares of Manitowoc Company, Inc. (The) from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $6.00 to $10.00 in a research note on Wednesday, August 2nd. BidaskClub raised shares of Manitowoc Company, Inc. (The) from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Group LLC reissued a “buy” rating and issued a $8.00 price target on shares of Manitowoc Company, Inc. (The) in a research note on Friday, June 16th. ValuEngine raised shares of Manitowoc Company, Inc. (The) from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Deutsche Bank AG boosted their price target on shares of Manitowoc Company, Inc. (The) from $6.22 to $6.30 and gave the company a “hold” rating in a research note on Friday, May 12th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $5.89.
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About Manitowoc Company, Inc. (The)
The Manitowoc Company, Inc is a provider of engineered lifting equipment for the construction industry. The Company operates through the Crane business segment. It designs, manufactures and distributes a line of crawler-mounted lattice-boom cranes, which it sells under the Manitowoc brand name. It also designs and manufactures a line of top-slewing and self-erecting tower cranes, which it sells under the Potain brand name.
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