Zacks: Brokerages Anticipate Manitex International Inc (NASDAQ:MNTX) to Post $0.09 EPS

Analysts expect Manitex International Inc (NASDAQ:MNTX) to report earnings per share of $0.09 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Manitex International’s earnings. Manitex International reported earnings of $0.11 per share in the same quarter last year, which would indicate a negative year over year growth rate of 18.2%. The business is expected to announce its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Manitex International will report full year earnings of $0.32 per share for the current financial year. For the next financial year, analysts forecast that the firm will report earnings of $0.48 per share. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Manitex International.

Manitex International (NASDAQ:MNTX) last issued its earnings results on Thursday, August 8th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $60.97 million during the quarter. Manitex International had a negative net margin of 2.74% and a positive return on equity of 6.11%.

Several research analysts have issued reports on the stock. Dougherty & Co reaffirmed a “buy” rating on shares of Manitex International in a report on Wednesday, August 28th. ValuEngine raised shares of Manitex International from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd.

Manitex International stock traded down $0.07 during trading hours on Friday, hitting $6.10. The stock had a trading volume of 28,323 shares, compared to its average volume of 53,901. The company has a quick ratio of 0.90, a current ratio of 1.83 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $119.91 million, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 1.90 and a beta of 1.57. Manitex International has a 12-month low of $4.80 and a 12-month high of $9.80. The stock’s 50-day moving average price is $6.02 and its 200-day moving average price is $6.47.

In related news, CEO Steve Filipov acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $5.76 per share, with a total value of $28,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 55,000 shares of the company’s stock, valued at $316,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.07% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNTX. Marshall Wace LLP purchased a new position in shares of Manitex International during the second quarter valued at approximately $68,000. Cutter & CO Brokerage Inc. bought a new stake in Manitex International during the second quarter valued at approximately $77,000. JPMorgan Chase & Co. grew its position in Manitex International by 38.4% during the second quarter. JPMorgan Chase & Co. now owns 65,168 shares of the industrial products company’s stock valued at $359,000 after buying an additional 18,086 shares during the period. Potrero Capital Research LLC bought a new stake in Manitex International during the second quarter valued at approximately $389,000. Finally, Paloma Partners Management Co bought a new stake in Manitex International during the second quarter valued at approximately $394,000. 51.78% of the stock is owned by hedge funds and other institutional investors.

Manitex International Company Profile

Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.

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