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Why The Manitowoc Company, Inc. (MTW) Outpaced the Stock Market Today
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The most recent trading session ended with The Manitowoc Company, Inc. (MTW - Free Report) standing at $13.45, reflecting a +1.74% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.32%. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the company had lost 2.65% over the past month. This has lagged the Industrial Products sector's gain of 7.87% and the S&P 500's gain of 5.11% in that time.
Market participants will be closely following the financial results of The Manitowoc Company, Inc. in its upcoming release. The company is forecasted to report an EPS of $0.22, showcasing a 52.17% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $493.76 million, indicating a 2.86% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.29 per share and a revenue of $2.3 billion, demonstrating changes of -15.13% and +3.12%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for The Manitowoc Company, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.83% lower. The Manitowoc Company, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, The Manitowoc Company, Inc. currently has a Forward P/E ratio of 10.25. This signifies no noticeable deviation in comparison to the average Forward P/E of 10.25 for its industry.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% of all industries, numbering over 250.
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.
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Why The Manitowoc Company, Inc. (MTW) Outpaced the Stock Market Today
The most recent trading session ended with The Manitowoc Company, Inc. (MTW - Free Report) standing at $13.45, reflecting a +1.74% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.32%. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the company had lost 2.65% over the past month. This has lagged the Industrial Products sector's gain of 7.87% and the S&P 500's gain of 5.11% in that time.
Market participants will be closely following the financial results of The Manitowoc Company, Inc. in its upcoming release. The company is forecasted to report an EPS of $0.22, showcasing a 52.17% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $493.76 million, indicating a 2.86% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.29 per share and a revenue of $2.3 billion, demonstrating changes of -15.13% and +3.12%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for The Manitowoc Company, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.83% lower. The Manitowoc Company, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, The Manitowoc Company, Inc. currently has a Forward P/E ratio of 10.25. This signifies no noticeable deviation in comparison to the average Forward P/E of 10.25 for its industry.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% of all industries, numbering over 250.
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.