The Manitowoc Company, Inc. (MTW) Stock Sinks As Market Gains: Here's Why
The Manitowoc Company, Inc. (MTW) closed the latest trading day at $16.58, indicating a -0.72% change from the previous session's end. This change lagged the S&P 500's 1.07% gain on the day. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 1.74%.
The company's shares have seen an increase of 5.96% over the last month, surpassing the Industrial Products sector's gain of 0.38% and the S&P 500's gain of 2.93%.
Investors will be eagerly watching for the performance of The Manitowoc Company, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 14, 2024. In that report, analysts expect The Manitowoc Company, Inc. to post earnings of $0.19 per share. This would mark a year-over-year decline of 74.32%. In the meantime, our current consensus estimate forecasts the revenue to be $575.21 million, indicating a 7.46% decline compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for The Manitowoc Company, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, there's been an 8.99% rise in the Zacks Consensus EPS estimate. The Manitowoc Company, Inc. currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, The Manitowoc Company, Inc. is currently trading at a Forward P/E ratio of 10.44. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 10.44.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 33, finds itself in the top 14% echelons of all 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.
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
