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The Manitowoc Company, Inc. (MTW) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw The Manitowoc Company, Inc. (MTW - Free Report) ending at $14.50, denoting a -0.21% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.63%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.39%.
Shares of the company witnessed a loss of 4.53% over the previous month, beating the performance of the Industrial Products sector with its loss of 5.41% and underperforming the S&P 500's loss of 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of The Manitowoc Company, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.01, marking a 110% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $469.2 million, indicating a 3.19% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.48 per share and revenue of $2.16 billion, indicating changes of +39.62% and +6.45%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for The Manitowoc Company, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. The Manitowoc Company, Inc. presently features a Zacks Rank of #2 (Buy).
With respect to valuation, The Manitowoc Company, Inc. is currently being traded at a Forward P/E ratio of 9.79. Its industry sports an average Forward P/E of 9.79, so one might conclude that The Manitowoc Company, Inc. is trading at no noticeable deviation comparatively.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 13, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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The Manitowoc Company, Inc. (MTW) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw The Manitowoc Company, Inc. (MTW - Free Report) ending at $14.50, denoting a -0.21% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.63%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.39%.
Shares of the company witnessed a loss of 4.53% over the previous month, beating the performance of the Industrial Products sector with its loss of 5.41% and underperforming the S&P 500's loss of 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of The Manitowoc Company, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.01, marking a 110% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $469.2 million, indicating a 3.19% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.48 per share and revenue of $2.16 billion, indicating changes of +39.62% and +6.45%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for The Manitowoc Company, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. The Manitowoc Company, Inc. presently features a Zacks Rank of #2 (Buy).
With respect to valuation, The Manitowoc Company, Inc. is currently being traded at a Forward P/E ratio of 9.79. Its industry sports an average Forward P/E of 9.79, so one might conclude that The Manitowoc Company, Inc. is trading at no noticeable deviation comparatively.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 13, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.