The Manitowoc Company, Inc. (MTW) Advances But Underperforms Market: Key Facts
The latest trading session saw The Manitowoc Company, Inc. (MTW) ending at $12.84, denoting a +0.08% adjustment from its last day's close. This change lagged the S&P 500's 0.73% gain on the day. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.93%.
The company's shares have seen a decrease of 12.72% over the last month, not keeping up with the Industrial Products sector's loss of 5.07% and the S&P 500's loss of 2.29%.
The upcoming earnings release of The Manitowoc Company, Inc. will be of great interest to investors. The company's earnings report is expected on November 1, 2023. The company's earnings per share (EPS) are projected to be -$0.01, reflecting a 110% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $469.2 million, indicating a 3.19% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.48 per share and a revenue of $2.16 billion, representing changes of +39.62% and +6.45%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for The Manitowoc Company, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, The Manitowoc Company, Inc. is carrying a Zacks Rank of #2 (Buy).
Looking at valuation, The Manitowoc Company, Inc. is presently trading at a Forward P/E ratio of 8.65. This expresses a discount compared to the average Forward P/E of 8.78 of its industry.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 5, positioning it in the top 2% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
