Manitex International Inc. (MNTX) Issues Earnings Results, Beats Estimates By $0.09 EPS
Manitex International Inc. (NASDAQ:MNTX) announced its quarterly earnings data on Wednesday. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. Manitex International had a negative net margin of 1.44% and a negative return on equity of 0.65%. The company earned $74.13 million during the quarter, compared to analyst estimates of $83.55 million. During the same period in the previous year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis.
Shares of Manitex International (NASDAQ:MNTX) opened at 5.49 on Friday. The stock’s market capitalization is $88.53 million. The firm’s 50-day moving average is $5.30 and its 200-day moving average is $6.26. Manitex International has a 52 week low of $4.25 and a 52 week high of $7.68.
Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Manitex International by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 17,788 shares of the company’s stock valued at $124,000 after buying an additional 79 shares during the last quarter. Paradigm Asset Management Co. LLC increased 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 valued at $123,000 after buying an additional 400 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Manitex International during the second quarter valued at $124,000. KCG Holdings Inc. acquired a new stake in shares of Manitex International during the third quarter valued at $105,000. Finally, Oxford Asset Management acquired a new stake in shares of Manitex International during the second quarter valued at $222,000. 57.70% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on MNTX shares. Zacks Investment Research upgraded shares of Manitex International from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Tuesday, August 9th. Roth Capital restated a “buy” rating and issued a $7.50 price objective on shares of Manitex International in a report on Monday, August 8th.
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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