Equities Analysts Offer Predictions for Manitex International Inc.’s FY2016 Earnings (MNTX)
Manitex International Inc. (NASDAQ:MNTX) – Stock analysts at Seaport Global Securities lowered their FY2016 earnings per share estimates for shares of Manitex International in a report released on Friday. Seaport Global Securities analyst M. Shlisky now anticipates that the brokerage will earn $0.04 per share for the year, down from their previous forecast 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.
Several other brokerages have also recently issued reports on MNTX. Zacks Investment Research cut shares of Manitex International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Roth Capital reissued a “buy” rating and set a $7.50 price target on shares of Manitex International in a research report on Monday, August 8th.
Shares of Manitex International (NASDAQ:MNTX) opened at 5.10 on Monday. The stock’s market cap is $82.24 million. The firm’s 50-day moving average is $5.56 and its 200 day moving average is $6.36. Manitex International has a 52-week low of $4.25 and a 52-week high of $7.68.
Manitex International (NASDAQ:MNTX) last released its earnings results on Thursday, August 4th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $96.30 million for the quarter, compared to the consensus estimate of $98.60 million. Manitex International had a negative net margin of 1.44% and a negative return on equity of 0.65%. Manitex International’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS.
A number of hedge funds have recently modified their holdings of MNTX. Rutabaga Capital Management LLC MA boosted its stake in shares of Manitex International by 218.8% in the second quarter. Rutabaga Capital Management LLC MA now owns 887,009 shares of the company’s stock valued at $6,147,000 after buying an additional 608,796 shares during the period. Vanguard Group Inc. boosted 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 valued at $3,156,000 after buying an additional 18,161 shares during the period. Stifel Financial Corp boosted 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 valued at $2,353,000 after buying an additional 19,636 shares during the period. Essex Investment Management Co. LLC boosted its stake in shares of Manitex International by 44.1% in the second quarter. Essex Investment Management Co. LLC now owns 89,661 shares of the company’s stock valued at $621,000 after buying an additional 27,434 shares during the period. Finally, BlackRock Fund Advisors boosted 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 valued at $266,000 after buying an additional 3,958 shares during the period. 57.56% of the stock is currently owned by hedge funds and other 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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