Manitowoc (MTW) Scheduled to Post Earnings on Wednesday

Manitowoc (NYSE:MTW) is scheduled to release its earnings data after the market closes on Wednesday, October 30th. Analysts expect Manitowoc to post earnings of $0.10 per share for the quarter. Manitowoc has set its FY24 guidance at $0.45-0.90 EPS and its FY 2024 guidance at 0.450-0.900 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Manitowoc (NYSE:MTW) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.24). The firm had revenue of $562.10 million for the quarter, compared to analyst estimates of $598.00 million. Manitowoc had a return on equity of 4.28% and a net margin of 0.40%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. On average, analysts expect Manitowoc to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Manitowoc Price Performance

Shares of NYSE:MTW opened at $9.76 on Wednesday. The firm has a 50 day moving average of $9.66 and a 200-day moving average of $11.12. Manitowoc has a 12 month low of $8.85 and a 12 month high of $17.65. The company has a current ratio of 1.89, a quick ratio of 0.58 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $346.70 million, a PE ratio of 13.01 and a beta of 1.84.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MTW shares. The Goldman Sachs Group cut their target price on Manitowoc from $13.00 to $11.30 and set a “sell” rating for the company in a research note on Friday, August 9th. StockNews.com lowered Manitowoc from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Manitowoc from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, Barclays reduced their price target on shares of Manitowoc from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.56.

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.