The Manitowoc Company, Inc. (MTW) Gains But Lags Market: What You Should Know
The Manitowoc Company, Inc. (MTW) closed at $18.59 in the latest trading session, marking a +0.16% move from the prior day. This change lagged the S&P 500's 0.4% gain on the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, added 10.86%.
Heading into today, shares of the company had gained 5.88% over the past month, outpacing the Industrial Products sector's gain of 5.55% and the S&P 500's gain of 3.98% in that time.
The Manitowoc Company, Inc. will be looking to display strength as it nears its next earnings release. 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, our latest consensus estimate is calling for revenue of $511.22 million, up 2.82% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.12 per share and revenue of $2.1 billion, which would represent changes of +5.66% and +3.09%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for The Manitowoc Company, Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.54% higher. The Manitowoc Company, Inc. currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note The Manitowoc Company, Inc.'s current valuation metrics, including its Forward P/E ratio of 16.54. Its industry sports an average Forward P/E of 11.56, so we one might conclude that The Manitowoc Company, Inc. is trading at a premium comparatively.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 4, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
