The Manitowoc Company, Inc. (MTW) Stock Moves -0.88%: What You Should Know
The Manitowoc Company, Inc. (MTW) closed at $14.58 in the latest trading session, marking a -0.88% move from the prior day. This change was narrower than the S&P 500's 1.37% loss on the day. At the same time, the Dow lost 1.29%, and the tech-heavy Nasdaq lost 1.87%.
Heading into today, shares of the company had lost 12.6% over the past month, lagging the Industrial Products sector's loss of 7.35% and the S&P 500's loss of 4.93% in that time.
Wall Street will be looking for positivity from The Manitowoc Company, Inc. as it approaches its next earnings report date. On that day, The Manitowoc Company, Inc. is projected to report earnings of -$0.01 per share, which would represent a year-over-year decline of 110%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $469.2 million, up 3.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.48 per share and revenue of $2.16 billion. These totals would mark changes of +39.62% and +6.45%, respectively, from last 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. The Manitowoc Company, Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note The Manitowoc Company, Inc.'s current valuation metrics, including its Forward P/E ratio of 9.91. For comparison, its industry has an average Forward P/E of 10.02, which means The Manitowoc Company, Inc. is trading at a discount 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 15, which puts it in the top 6% 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.
Be sure to follow all of these stock-moving metrics, and many 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
