The Manitowoc Company, Inc. (MTW) Increases Yet Falls Behind Market: What Investors Need to Know
In the latest market close, The Manitowoc Company, Inc. (MTW) reached $15.53, with a +0.39% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.88%. Meanwhile, the Dow experienced a rise of 0.54%, and the technology-dominated Nasdaq saw an increase of 1.35%.
Coming into today, shares of the company had lost 4.62% in the past month. In that same time, the Industrial Products sector lost 1.95%, while the S&P 500 gained 0.64%.
The upcoming earnings release of The Manitowoc Company, Inc. will be of great interest to investors. The company is forecasted to report an EPS of $0.19, showcasing a 74.32% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $575.21 million, indicating a 7.46% downward movement from the same quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, The Manitowoc Company, Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, The Manitowoc Company, Inc. is presently being traded at a Forward P/E ratio of 10.54. This valuation marks a premium compared to its industry's average Forward P/E of 9.75.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 77, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
