Manitowoc (NYSE:MTW – Get Free Report) released its earnings results on Wednesday. The industrial products company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04), Zacks reports. Manitowoc had a positive return on equity of 2.40% and a negative net margin of 0.40%.
Manitowoc Price Performance
Shares of NYSE MTW traded down $0.18 during mid-day trading on Wednesday, reaching $9.79. The company’s stock had a trading volume of 300,474 shares, compared to its average volume of 235,794. Manitowoc has a 52 week low of $8.30 and a 52 week high of $16.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.97 and a quick ratio of 0.60. The firm has a market capitalization of $343.92 million, a PE ratio of -36.26 and a beta of 1.83. The stock has a fifty day moving average of $9.40 and a two-hundred day moving average of $9.82.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on MTW shares. StockNews.com upgraded shares of Manitowoc from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Robert W. Baird lowered their price objective on Manitowoc from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, Manitowoc has an average rating of “Hold” and an average price target of $12.47.
About Manitowoc
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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