The Manitowoc Company, Inc. (MTW) Increases Despite Market Slip: Here's What You Need to Know
The Manitowoc Company, Inc. (MTW) closed the latest trading day at $16.32, indicating a +0.37% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.07%. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.
Prior to today's trading, shares of the company had lost 4.97% over the past month. This has lagged the Industrial Products sector's loss of 0.09% and the S&P 500's gain of 3.05% in that time.
The investment community will be paying close attention to the earnings performance of The Manitowoc Company, Inc. in its upcoming release. On that day, The Manitowoc Company, Inc. is projected to report earnings of $0.19 per share, which would represent a year-over-year decline of 74.32%. Meanwhile, our latest consensus estimate is calling for revenue of $575.21 million, down 7.46% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for The Manitowoc Company, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 8.99% higher within the past month. At present, The Manitowoc Company, Inc. boasts a Zacks Rank of #1 (Strong Buy).
Digging into valuation, The Manitowoc Company, Inc. currently has a Forward P/E ratio of 10.16. For comparison, its industry has an average Forward P/E of 10.16, which means The Manitowoc Company, Inc. is trading at no noticeable deviation to the group.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% 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.
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
