Manitex International, Inc. (NASDAQ:MNTX) Expected to Post Quarterly Sales of $44.35 Million
Analysts forecast that Manitex International, Inc. (NASDAQ:MNTX) will announce $44.35 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Manitex International’s earnings, with estimates ranging from $44.20 million to $44.50 million. Manitex International posted sales of $96.28 million in the same quarter last year, which suggests a negative year over year growth rate of 53.9%. The business is expected to announce its next earnings report on Thursday, August 3rd.
On average, analysts expect that Manitex International will report full year sales of $44.35 million for the current financial year, with estimates ranging from $192.40 million to $192.90 million. For the next year, analysts forecast that the firm will report sales of $208.05 million per share, with estimates ranging from $202.60 million to $213.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Manitex International.
Manitex International (NASDAQ:MNTX) last issued its quarterly earnings results on Thursday, May 4th. The industrial products company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $73.60 million. Manitex International had a positive return on equity of 1.75% and a negative net margin of 13.20%. The business’s quarterly revenue was down 20.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 earnings per share.
Separately, Roth Capital set a $10.00 price target on Manitex International and gave the company a “buy” rating in a research note on Thursday, June 8th.
Several institutional investors have recently made changes to their positions in MNTX. Dimensional Fund Advisors LP raised its position in shares of Manitex International by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 135,962 shares of the industrial products company’s stock valued at $911,000 after buying an additional 4,176 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Manitex International by 13.9% in the first quarter. Geode Capital Management LLC now owns 71,035 shares of the industrial products company’s stock valued at $475,000 after buying an additional 8,653 shares in the last quarter. Morgan Stanley raised its position in shares of Manitex International by 2.6% in the first quarter. Morgan Stanley now owns 398,816 shares of the industrial products company’s stock valued at $2,673,000 after buying an additional 9,980 shares in the last quarter. KCG Holdings Inc. acquired a new position in shares of Manitex International during the first quarter valued at $114,000. Finally, Segantii Capital Management Ltd acquired a new position in shares of Manitex International during the first quarter valued at $126,000. Hedge funds and other institutional investors own 65.36% of the company’s stock.
Shares of Manitex International (NASDAQ MNTX) opened at 6.98 on Friday. The stock’s market cap is $115.53 million. Manitex International has a 12 month low of $4.98 and a 12 month high of $9.89. The firm has a 50-day moving average price of $6.98 and a 200-day moving average price of $7.34.
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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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