Manitowoc (NYSE:MTW) Shares Gap Down on Disappointing Earnings

The Manitowoc Company, Inc. (NYSE:MTW) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $14.86, but opened at $13.23. Manitowoc shares last traded at $14.73, with a volume of 343,414 shares traded.

The industrial products company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $677.10 million for the quarter, compared to analyst estimates of $637.00 million. Manitowoc had a return on equity of 0.87% and a net margin of 2.63%.The company’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share. Manitowoc has set its FY 2026 guidance at 0.450-0.900 EPS.

Analysts Set New Price Targets

MTW has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Manitowoc in a research note on Monday, December 22nd. Wall Street Zen raised shares of Manitowoc from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $10.00 price target (up from $9.00) on shares of Manitowoc in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $10.50.

Hedge Funds Weigh In On Manitowoc

A number of hedge funds have recently bought and sold shares of MTW. Gamco Investors INC. ET AL lifted its position in shares of Manitowoc by 0.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 375,209 shares of the industrial products company’s stock worth $4,510,000 after buying an additional 1,900 shares during the last quarter. Intech Investment Management LLC lifted its stake in Manitowoc by 20.9% during the third quarter. Intech Investment Management LLC now owns 13,752 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 2,376 shares during the last quarter. Associated Banc Corp lifted its holdings in shares of Manitowoc by 13.6% during the third quarter. Associated Banc Corp now owns 20,302 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 2,435 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Manitowoc by 131.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,541 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 2,575 shares during the period. Finally, Goldstein Advisors LLC grew its holdings in shares of Manitowoc by 18.4% during the second quarter. Goldstein Advisors LLC now owns 19,300 shares of the industrial products company’s stock valued at $232,000 after buying an additional 3,000 shares in the last quarter. 78.66% of the stock is currently owned by institutional investors and hedge funds.

Manitowoc Price Performance

The stock’s 50-day moving average is $13.06 and its 200 day moving average is $11.50. The company has a quick ratio of 0.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $522.65 million, a PE ratio of 9.26 and a beta of 1.88.

Manitowoc Company Profile

The Manitowoc Company, Inc (NYSE: MTW) is a global manufacturer of heavy-lift cranes and lifting equipment. The company’s product portfolio includes tower cranes marketed under the Potain brand, mobile hydraulic cranes sold under the Grove, Manitowoc and National Crane names, and engineered lifting solutions such as mast climbers and platform hoists. Manitowoc serves a wide range of industries, including construction, infrastructure, energy and industrial markets.

Headquartered in Milwaukee, Wisconsin, Manitowoc operates manufacturing facilities, sales offices and rental centers across North America, Europe, Asia, Latin America and the Middle East.