NEW YORK (TheStreet) -- Shares of Manitowoc Co. Inc. (MTW) - Get Manitowoc Company, Inc. Report are lower by 2.55% to $18.75 in early afternoon trading on Friday after the company reported its 2014 fourth-quarter earnings results which declined year-over-year and came in lower than analysts had expected.
For the most recent quarter, the multi-industry capital goods manufacturer said its adjusted earnings from continuing operations were 27 cents per diluted share compared to 47 cents per diluted share for the 2013 fourth quarter.
Analysts polled by Thomson Reuters were expecting earnings of 32 cents a share for the quarter.
Exclusive Report:Jim Cramer's Best Stocks for 2015
Sales for the latest quarter fell by 6.1% to $1.0 billion versus the $1.1 billion from the year-ago period.
Analysts had forecast for earnings of $1.06 billion for the quarter.
Additionally, Manitowoc announced that it is splitting into two separate companies. The spinoff of its food equipment business from construction cranes will take place during the early part of 2016.
The company decided to spinoff the segment due to tough business conditions and an increase in pressure from investors, the Wall Street Journal reports.
Separately, TheStreet Ratings team rates MANITOWOC CO as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MANITOWOC CO (MTW) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: MTW Ratings Report