Zacks: Brokerages Expect Manitex International, Inc. (MNTX) Will Post Quarterly Sales of $51.55 Million

Analysts 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 issued estimates for Manitex International’s earnings. The lowest sales estimate is $49.90 million and the highest is $53.20 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 firm is scheduled to issue its next 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 fiscal year, with estimates ranging from $192.30 million to $194.80 million. For the next financial year, analysts forecast that the business will post 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 company had revenue of $51.60 million for the quarter, compared to analyst estimates of $44.35 million. Manitex International had a negative net margin of 15.69% and a positive return on equity of 2.50%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS.

A number of analysts have recently issued reports on the company. Zacks Investment Research cut Manitex International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine raised Manitex International from a “sell” rating to a “hold” rating in a research report 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 report on Thursday, June 8th.

COPYRIGHT VIOLATION WARNING: This article was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.chaffeybreeze.com/2017/09/21/zacks-brokerages-expect-manitex-international-inc-mntx-will-post-quarterly-sales-of-51-55-million.html.

A number of large investors have recently added to or reduced their stakes in MNTX. Next Century Growth Investors LLC acquired a new stake in Manitex International during the 1st quarter worth approximately $1,761,000. Shufro Rose & Co. LLC acquired a new stake in Manitex International during the 2nd quarter worth approximately $1,743,000. Kennedy Capital Management Inc. lifted its holdings in Manitex International by 38.2% during the 2nd quarter. Kennedy Capital Management Inc. now owns 425,209 shares of the industrial products company’s stock worth $2,968,000 after purchasing an additional 117,447 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in Manitex International during the 2nd quarter worth approximately $524,000. Finally, Essex Investment Management Co. LLC lifted its holdings in Manitex International by 37.2% during the 2nd quarter. Essex Investment Management Co. LLC now owns 237,669 shares of the industrial products company’s stock worth $1,659,000 after purchasing an additional 64,445 shares during the last quarter. 60.72% of the stock is owned by institutional investors and hedge funds.

Manitex International (NASDAQ MNTX) opened at 9.20 on Thursday. Manitex International has a 12-month low of $4.98 and a 12-month high of $9.89. The stock’s market capitalization is $152.32 million. The firm has a 50-day moving average of $8.58 and a 200-day moving average of $7.49.

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.

Get a free copy of the Zacks research report on Manitex International (MNTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Manitex International (NASDAQ:MNTX)

Receive News & Ratings for Manitex International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitex International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply