Manitex International Inc. (MNTX) to Post FY2016 Earnings of $0.04 Per Share, Seaport Global Securities Forecasts
Manitex International Inc. (NASDAQ:MNTX) – Stock analysts at Seaport Global Securities dropped their FY2016 earnings per share estimates for Manitex International in a research note issued on Friday. Seaport Global Securities analyst M. Shlisky now anticipates that the brokerage will post earnings per share of $0.04 for the year, down from their previous estimate of $0.05. Seaport Global Securities also issued estimates for Manitex International’s Q1 2017 earnings at $0.10 EPS, Q2 2017 earnings at $0.08 EPS and Q3 2017 earnings at $0.07 EPS.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Manitex International from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Roth Capital reiterated a “buy” rating and issued a $7.50 target price on shares of Manitex International in a report on Monday, August 8th.
Shares of Manitex International (NASDAQ:MNTX) opened at 5.41 on Monday. Manitex International has a 1-year low of $4.25 and a 1-year high of $7.68. The firm’s 50-day moving average is $5.62 and its 200-day moving average is $6.35. The company’s market cap is $87.24 million.
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Manitex International (NASDAQ:MNTX) last released its earnings results on Thursday, August 4th. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. Manitex International had a negative net margin of 1.44% and a negative return on equity of 0.65%. The company had revenue of $96.30 million for the quarter, compared to analysts’ expectations of $98.60 million. During the same quarter last year, the business earned $0.02 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year.
Several large investors have recently modified their holdings of the company. Stifel Financial Corp raised its stake in shares of Manitex International by 6.1% in the second quarter. Stifel Financial Corp now owns 339,564 shares of the company’s stock worth $2,353,000 after buying an additional 19,636 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Manitex International during the second quarter worth $124,000. Paradigm Asset Management Co. LLC raised its stake in shares of Manitex International by 2.3% in the second quarter. Paradigm Asset Management Co. LLC now owns 17,800 shares of the company’s stock worth $123,000 after buying an additional 400 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Manitex International by 11.5% in the second quarter. BlackRock Fund Advisors now owns 38,337 shares of the company’s stock worth $266,000 after buying an additional 3,958 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Manitex International by 4.2% in the second quarter. Vanguard Group Inc. now owns 455,503 shares of the company’s stock worth $3,156,000 after buying an additional 18,161 shares during the last quarter. Institutional investors and hedge funds own 57.56% of the company’s stock.
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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