Manitowoc (MTW) Announces Earnings Results, Misses Expectations By $0.11 EPS

Manitowoc (NYSE:MTW) issued its quarterly earnings results on Thursday. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11), Bloomberg Earnings reports. The company had revenue of $481.50 million during the quarter, compared to the consensus estimate of $423.27 million. Manitowoc had a negative return on equity of 6.17% and a negative net margin of 4.01%. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.24) earnings per share.

Manitowoc (NYSE:MTW) traded down $2.28 during trading hours on Thursday, hitting $34.39. The stock had a trading volume of 872,260 shares, compared to its average volume of 600,647. Manitowoc has a fifty-two week low of $21.00 and a fifty-two week high of $44.03. The company has a market capitalization of $1,210.00, a P/E ratio of -25.10 and a beta of 1.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.67 and a current ratio of 1.76.

In other Manitowoc news, Director Charles David Myers bought 3,854 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average cost of $39.12 per share, for a total transaction of $150,768.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.82% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on the company. Robert W. Baird restated a “buy” rating and issued a $47.00 price target on shares of Manitowoc in a research report on Friday, November 24th. Zacks Investment Research downgraded Manitowoc from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Seaport Global Securities upgraded Manitowoc from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Monday, November 20th. Barclays assumed coverage on Manitowoc in a research report on Tuesday, December 12th. They set an “overweight” rating and a $45.00 target price for the company. Finally, Royal Bank of Canada upgraded Manitowoc from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $48.00 in a research report on Wednesday, November 1st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Manitowoc presently has a consensus rating of “Buy” and an average price target of $39.64.

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About Manitowoc

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.

Earnings History for Manitowoc (NYSE:MTW)

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