Q3 2018 Earnings Estimate for Manitex International, Inc. Issued By Seaport Global Securities (MNTX)
Manitex International, Inc. (NASDAQ:MNTX) – Research analysts at Seaport Global Securities lowered their Q3 2018 EPS estimates for shares of Manitex International in a report released on Wednesday. Seaport Global Securities analyst M. Shlisky now expects that the industrial products company will post earnings per share of $0.11 for the quarter, down from their prior forecast of $0.12.
Manitex International (NASDAQ:MNTX) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.08. The company had revenue of $51.60 million for the quarter, compared to the consensus estimate of $44.35 million. Manitex International had a positive return on equity of 2.50% and a negative net margin of 15.69%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS.
MNTX has been the topic of a number of other research reports. ValuEngine raised Manitex International from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research raised Manitex International from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research report on Tuesday.
Shares of Manitex International (NASDAQ:MNTX) traded up 5.34% during trading on Thursday, hitting $8.87. The stock had a trading volume of 32,868 shares. The firm has a 50 day moving average of $8.97 and a 200 day moving average of $7.69. The company’s market capitalization is $146.85 million. Manitex International has a 1-year low of $4.98 and a 1-year high of $9.89.
Institutional investors have recently made changes to their positions in the stock. Pacific Ridge Capital Partners LLC raised its position in Manitex International by 11.1% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 551,254 shares of the industrial products company’s stock valued at $3,848,000 after buying an additional 55,120 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Manitex International in the 2nd quarter valued at approximately $105,000. Morgan Stanley raised its position in Manitex International by 2.6% in the 1st quarter. Morgan Stanley now owns 398,816 shares of the industrial products company’s stock valued at $2,673,000 after buying an additional 9,980 shares during the last quarter. Essex Investment Management Co. LLC raised its position in Manitex International by 37.2% in the 2nd quarter. Essex Investment Management Co. LLC now owns 237,669 shares of the industrial products company’s stock valued at $1,659,000 after buying an additional 64,445 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Manitex International by 16.3% during the 2nd quarter. Victory Capital Management Inc. now owns 122,120 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 17,080 shares during the last quarter. 60.72% of the stock is currently owned by institutional investors and hedge funds.
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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