Manitowoc (NYSE:MTW) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Manitowoc (NYSE:MTW - Get Free Report) released its earnings results on Tuesday. The industrial products company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04), Briefing.com reports. The company had revenue of $495.10 million for the quarter, compared to analyst estimates of $496.93 million. Manitowoc had a net margin of 1.76% and a return on equity of 9.44%. Manitowoc's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share.

Manitowoc Price Performance

Shares of NYSE:MTW traded up $0.18 on Tuesday, hitting $12.63. The stock had a trading volume of 238,198 shares, compared to its average volume of 252,335. Manitowoc has a twelve month low of $11.73 and a twelve month high of $19.81. The company has a market capitalization of $448.11 million, a price-to-earnings ratio of 11.59 and a beta of 2.05. The firm's 50 day moving average price is $13.28 and its 200-day moving average price is $14.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.65 and a current ratio of 1.83.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Manitowoc from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Tuesday, April 16th. Barclays decreased their price objective on Manitowoc from $15.00 to $12.00 and set an "underweight" rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company reduced their target price on Manitowoc from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Friday, February 16th. Finally, StockNews.com lowered shares of Manitowoc from a "buy" rating to a "hold" rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $16.83.

Manitowoc Company Profile

The Manitowoc Company, Inc provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, the Asia Pacific, and internationally. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.

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