The Manitowoc Company, Inc. (MTW) Surges 7.5%: Is This an Indication of Further Gains?
The Manitowoc Company, Inc. (MTW) shares ended the last trading session 7.5% higher at $19.32. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's no gain, no loss over the past four weeks.
Manitowoc has been benefiting from product innovation and growing its solid aftermarket business. Continuous focus on cost control as well as efforts to improve productivity is also driving the stock.
In North America, demand from residential and non-residential construction is driving demand for Manitowoc’s equipment. Further, the need to replace the aging crane fleet will support the demand for Manitowoc’s equipment.
This company is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of +19.1%. Revenues are expected to be $510.8 million, up 2.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For The Manitowoc Company, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MTW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
The Manitowoc Company, Inc. is part of the Zacks Manufacturing - Construction and Mining industry. Terex (TEX), another stock in the same industry, closed the last trading session 3.4% higher at $62.93. TEX has returned 5.4% in the past month.
Terex's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $1.61. Compared to the company's year-ago EPS, this represents a change of +50.5%. Terex currently boasts a Zacks Rank of #3 (Hold).
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The Manitowoc Company, Inc. (MTW) : Free Stock Analysis Report
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