Manitowoc (MTW) Plunges 19.02% in Four Days on Earnings Concerns

Manitowoc (MTW) shares fell 2.43% today, marking the fourth consecutive day of decline, with a total drop of 19.02% over the past four days. The share price fell to its lowest level since August 2017 today, with an intraday decline of 3.37%.

The recent decline in Manitowoc's stock price can be attributed to several factors. Analysts have forecasted a decline in earnings by 5.2% annually over the next three years, which contrasts with the market's expected growth of 11% per annum. This negative outlook has likely influenced investor sentiment and contributed to the company's low P/E ratio.

The company's P/E ratio of 4.7x is significantly lower than the industry average, indicating that the market may have low expectations for the company's future performance. This low P/E ratio is consistent with the anticipated decline in earnings, further contributing to the recent drop in stock price.

UBS has lowered the firm's price target from $13 to $9, maintaining a Neutral rating. This adjustment reflects expectations of further downside in earnings and may have contributed to the recent decline in stock price. The collective impact of these factors indicates a challenging outlook for Manitowoc, explaining the recent drop in its share price.