The Manitowoc Company, Inc. (MTW) Gains As Market Dips: What You Should Know
The Manitowoc Company, Inc. (MTW) closed at $15.76 in the latest trading session, marking a +0.51% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.03%, and the technology-centric Nasdaq decreased by 0.56%.
Heading into today, shares of the company had gained 1.75% over the past month, lagging the Industrial Products sector's gain of 4.44% and the S&P 500's gain of 2.56% in that time.
Investors will be eagerly watching for the performance of The Manitowoc Company, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.19, indicating a 74.32% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $575.21 million, indicating a 7.46% decrease compared to the same quarter of the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for The Manitowoc Company, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.69% increase. The Manitowoc Company, Inc. presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, The Manitowoc Company, Inc. is holding a Forward P/E ratio of 10.68. This represents a premium compared to its industry's average Forward P/E of 10.26.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 219, finds itself in the bottom 14% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
