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Should You Buy #1 (Strong Buy)-Ranked The Manitowoc Company, Inc. (MTW) for Your Portfolio?
The Manitowoc Company, Inc. was upgraded to the Zacks Rank #1 list on February 22, 2023. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Incorporated in 1902, Manitowoc is a leading provider of engineered lifting solutions, including lattice-boom cranes, tower cranes, mobile telescopic cranes and boom trucks. The company has three reportable segments, the Americas segment, EURAF segment, and MEAP segment.
For fiscal 2023, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.25 to $1.10 per share. MTW boasts an average earnings surprise of 256.3%.
Earnings are expected to grow 3.8% for the current fiscal year, while revenue is projected to increase 2.9%.
Additionally, MTW has climbed higher over the past four weeks, gaining 13.6%. The S&P 500 is up 3.4% in comparison.
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, The Manitowoc Company, Inc. could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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