Shares of The Manitowoc Company, Inc. (MTW - Free Report) have gained around 31% in the last three months. The company has also outperformed its industry’s gain of roughly 26%.
Manitowoc has a market cap of roughly $1.38 billion. Average volume of shares traded in the last three months is around 423.3K. The company has an impressive earnings surprise history as it has topped the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive surprise of 139.1%.
Let’s take a look into the factors that are driving this Zacks Rank #1 (Strong Buy) stock.
Driving Factors
Manitowoc’s share price has benefited since its return to profit in the second quarter of 2017, after incurring losses for three straight quarters due to weak crane demand. The momentum continued in the third quarter with the company reporting adjusted earnings of 9 cents per share, a reversal from the prior-year quarter’s loss of 28 cents. Earnings also beat the Zacks Consensus Estimate of a loss of 4 cents per share.
The year-over-year improvement continues to be primarily driven by focus on consolidating manufacturing footprint and reducing cost of organizational structure. In fact, the Americas is showing emerging momentum in demand from energy and commercial construction markets. Europe has been stable and continues to grow in residential as well as commercial construction markets.
The company’s third-quarter orders are pegged at $376 million, up 21% year over year. This improvement was backed by U.S. energy and commercial construction markets that helped offset the persisting weakness in U.S. large infrastructure, Asia Pacific and the Middle East. Backlog at the quarter-end came in at $467.9 million as of Sep 30, 2017, up 32% from $353.6 million as of the end of the third quarter of 2016.
Manitowoc Company, Inc. Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Shares of The Manitowoc Company, Inc. (MTW - Free Report) have gained around 31% in the last three months. The company has also outperformed its industry’s gain of roughly 26%.
Manitowoc has a market cap of roughly $1.38 billion. Average volume of shares traded in the last three months is around 423.3K. The company has an impressive earnings surprise history as it has topped the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive surprise of 139.1%.
Let’s take a look into the factors that are driving this Zacks Rank #1 (Strong Buy) stock.
Driving Factors
Manitowoc’s share price has benefited since its return to profit in the second quarter of 2017, after incurring losses for three straight quarters due to weak crane demand. The momentum continued in the third quarter with the company reporting adjusted earnings of 9 cents per share, a reversal from the prior-year quarter’s loss of 28 cents. Earnings also beat the Zacks Consensus Estimate of a loss of 4 cents per share.
The year-over-year improvement continues to be primarily driven by focus on consolidating manufacturing footprint and reducing cost of organizational structure. In fact, the Americas is showing emerging momentum in demand from energy and commercial construction markets. Europe has been stable and continues to grow in residential as well as commercial construction markets.
The company’s third-quarter orders are pegged at $376 million, up 21% year over year. This improvement was backed by U.S. energy and commercial construction markets that helped offset the persisting weakness in U.S. large infrastructure, Asia Pacific and the Middle East. Backlog at the quarter-end came in at $467.9 million as of Sep 30, 2017, up 32% from $353.6 million as of the end of the third quarter of 2016.
Manitowoc Company, Inc. Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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