Analysts expect Manitex International, Inc. (NASDAQ:MNTX) to announce sales of $51.55 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Manitex International’s earnings. The lowest sales estimate is $49.90 million and the highest is $53.20 million. Manitex International reported sales of $74.13 million during the same quarter last year, which indicates a negative year-over-year growth rate of 30.5%. The firm is scheduled to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Manitex International will report full year sales of $51.55 million for the current fiscal year, with estimates ranging from $192.30 million to $194.80 million. For the next financial year, analysts forecast that the business will post sales of $214.60 million per share, with estimates ranging from $214.20 million to $215.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Manitex International.
Manitex International (NASDAQ:MNTX) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.08. The company had revenue of $51.60 million for the quarter, compared to analyst estimates of $44.35 million. Manitex International had a negative net margin of 15.69% and a positive return on equity of 2.50%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine raised Manitex International from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Roth Capital set a $10.00 price objective on Manitex International and gave the company a “buy” rating in a research report on Thursday, June 8th.
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A number of large investors have recently added to or reduced their stakes in MNTX. Next Century Growth Investors LLC acquired a new stake in Manitex International during the 1st quarter worth approximately $1,761,000. Shufro Rose & Co. LLC acquired a new stake in Manitex International during the 2nd quarter worth approximately $1,743,000. Kennedy Capital Management Inc. lifted its holdings in Manitex International by 38.2% during the 2nd quarter. Kennedy Capital Management Inc. now owns 425,209 shares of the industrial products company’s stock worth $2,968,000 after purchasing an additional 117,447 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in Manitex International during the 2nd quarter worth approximately $524,000. Finally, Essex Investment Management Co. LLC lifted its holdings in Manitex International by 37.2% during the 2nd quarter. Essex Investment Management Co. LLC now owns 237,669 shares of the industrial products company’s stock worth $1,659,000 after purchasing an additional 64,445 shares during the last quarter. 60.72% of the stock is owned by institutional investors and hedge funds.
Manitex International (NASDAQ MNTX) opened at 9.20 on Thursday. Manitex International has a 12-month low of $4.98 and a 12-month high of $9.89. The stock’s market capitalization is $152.32 million. The firm has a 50-day moving average of $8.58 and a 200-day moving average of $7.49.
Manitex International Company Profile
Manitex International, Inc is a provider of engineered specialty lifting and loading products. The Company operates in three business segments: the Lifting Equipment segment, the A.S.V., LLC (ASV) segment and the Equipment Distribution segment. Through its Lifting Equipment segment, the Company designs, manufactures and distributes a diverse group of products that serve various functions and are used in a range of industries.
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