Manitowoc (MTW) Scheduled to Post Quarterly Earnings on Wednesday

Manitowoc (NYSE:MTW - Get Free Report) will announce its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce 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 interested in listening to the company's conference call can do so using this link.

Manitowoc (NYSE:MTW - Get Free Report) last posted its earnings results 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). Manitowoc had a net margin of 0.40% and a return on equity of 4.28%. The firm had revenue of $562.10 million during the quarter, compared to analyst estimates of $598.00 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business's quarterly revenue was down 6.8% compared to the same quarter last year. On average, analysts expect Manitowoc to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Manitowoc Stock Performance

NYSE:MTW traded down $0.11 during midday trading on Wednesday, reaching $9.65. The stock had a trading volume of 182,908 shares, compared to its average volume of 266,099. Manitowoc has a 1-year low of $8.85 and a 1-year high of $17.65. The firm's fifty day simple moving average is $9.67 and its 200-day simple moving average is $11.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.89 and a quick ratio of 0.58. The stock has a market capitalization of $342.97 million, a P/E ratio of 12.87 and a beta of 1.84.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MTW shares. The Goldman Sachs Group lowered their target price on shares of Manitowoc from $13.00 to $11.30 and set a "sell" rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Manitowoc from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. StockNews.com lowered shares of Manitowoc from a "hold" rating to a "sell" rating in a research note on Wednesday, July 24th. Finally, Barclays lowered their target price 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 equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock 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.