NEW YORK (TheStreet) -- Shares of Manitowoc Co. (MTW) - Get Report are soaring by 13.06% to $15.84 on heavy volume on Friday morning, after the multi-industry capital goods manufacturer reported better than expected earnings results for the 2015 fourth quarter.
After the market close on Thursday, the company posted adjusted earnings of 43 cents per diluted share on sales of $934.8 million.
Analysts had forecast that the company would report earnings of 21 cents per share on revenue of $936.95 million for the most recent quarter.
The Manitowoc, WI-based company operates in two markets: cranes and foodservices equipment.
The company announced last year that it is going to spin-off its foodservices business and expects this to be completed in the fiscal 2016 first quarter. However, the company noted that recent weakness in the credit markets has pressured its timeline.
Separately, TheStreet Ratings has set a "hold" rating and score of C on Manitowoc stock. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strongest point has been its a solid financial position based on a variety of debt and liquidity measures that we have looked at. At the same time, however, TheStreet Ratings also finds weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MTW