The Manitowoc Company, Inc. (MTW) Dips More Than Broader Markets: What You Should Know

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The Manitowoc Company, Inc. (MTW) closed the most recent trading day at $17.77, moving -0.95% from the previous trading session. This move lagged the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.

Prior to today's trading, shares of the company had lost 1.59% over the past month. This has lagged the Industrial Products sector's gain of 8.24% and the S&P 500's gain of 5.14% in that time.

Investors will be hoping for strength from The Manitowoc Company, Inc. as it approaches its next earnings release, which is expected to be August 7, 2023. On that day, The Manitowoc Company, Inc. is projected to report earnings of $0.25 per share, which would represent year-over-year growth of 19.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $511.22 million, up 2.82% from the year-ago period.

MTW's full-year Zacks Consensus Estimates are calling for earnings of $1.12 per share and revenue of $2.1 billion. These results would represent year-over-year changes of +5.66% and +3.09%, respectively.

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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.54% higher. The Manitowoc Company, Inc. is currently a Zacks Rank #1 (Strong Buy).

Digging into valuation, The Manitowoc Company, Inc. currently has a Forward P/E ratio of 15.99. For comparison, its industry has an average Forward P/E of 11.68, which means The Manitowoc Company, Inc. is trading at a premium to the group.

The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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