$51.55 Million in Sales Expected for Manitex International, Inc. (NASDAQ:MNTX) This Quarter
Brokerages 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 made estimates for Manitex International’s earnings, with the highest sales estimate coming in at $53.20 million and the lowest estimate coming in at $49.90 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 business is scheduled to announce its next quarterly 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 financial year, with estimates ranging from $192.30 million to $194.80 million. For the next financial year, analysts expect that the firm will report 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 firm had revenue of $51.60 million for the quarter, compared to analyst estimates of $44.35 million. Manitex International had a positive return on equity of 2.50% and a negative net margin of 15.69%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS.
Several research firms have issued reports on MNTX. Zacks Investment Research lowered Manitex International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 10th. ValuEngine upgraded Manitex International from a “sell” rating to a “hold” rating in a research note 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 note on Thursday, June 8th.
Shares of Manitex International (MNTX) opened at 8.30 on Tuesday. Manitex International has a 12-month low of $4.98 and a 12-month high of $9.89. The firm’s market cap is $137.41 million. The firm has a 50-day moving average price of $7.31 and a 200-day moving average price of $7.37.
Several institutional investors have recently bought and sold shares of MNTX. Essex Investment Management Co. LLC increased its position in Manitex International by 73.5% in the first quarter. Essex Investment Management Co. LLC now owns 173,224 shares of the industrial products company’s stock valued at $1,161,000 after buying an additional 73,382 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Manitex International during the fourth quarter valued at approximately $1,119,000. Pacific Ridge Capital Partners LLC increased its position in Manitex International by 19.9% in the first quarter. Pacific Ridge Capital Partners LLC now owns 496,134 shares of the industrial products company’s stock valued at $3,324,000 after buying an additional 82,259 shares during the last quarter. WealthTrust Axiom LLC increased its position in Manitex International by 12.8% in the first quarter. WealthTrust Axiom LLC now owns 830,262 shares of the industrial products company’s stock valued at $5,562,000 after buying an additional 93,996 shares during the last quarter. Finally, Next Century Growth Investors LLC purchased a new position in Manitex International during the first quarter valued at approximately $1,761,000. 67.58% of the stock is currently owned by institutional investors.
About Manitex International
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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