The Manitowoc Company, Inc. (MTW) Dips More Than Broader Markets: What You Should Know
The Manitowoc Company, Inc. (MTW) closed at $19.33 in the latest trading session, marking a -1.93% move from the prior day. This move lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the company had gained 9.14% in the past month. In that same time, the Industrial Products sector gained 5.2%, while the S&P 500 gained 3.39%.
Wall Street will be looking for positivity from The Manitowoc Company, Inc. as it approaches its next earnings report date. In that report, analysts expect The Manitowoc Company, Inc. to post earnings of $0.25 per share. This would mark year-over-year growth of 19.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $510.8 million, up 2.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.12 per share and revenue of $2.09 billion, which would represent changes of +5.66% and +2.99%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.54% higher within the past month. The Manitowoc Company, Inc. currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that The Manitowoc Company, Inc. has a Forward P/E ratio of 17.57 right now. For comparison, its industry has an average Forward P/E of 11.6, 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 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
