Zacks: Analysts Anticipate Manitex International Inc (MNTX) Will Post Quarterly Sales of $61.10 Million
Brokerages expect Manitex International Inc (NASDAQ:MNTX) to post $61.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Manitex International’s earnings, with the highest sales estimate coming in at $63.10 million and the lowest estimate coming in at $59.10 million. Manitex International posted sales of $56.46 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.2%. The company is scheduled to report its next earnings report on Tuesday, February 5th.
On average, analysts expect that Manitex International will report full-year sales of $247.30 million for the current year, with estimates ranging from $246.20 million to $248.40 million. For the next year, analysts expect that the business will report sales of $262.25 million, with estimates ranging from $261.30 million to $263.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Manitex International.
Manitex International (NASDAQ:MNTX) last issued its earnings results on Tuesday, August 7th. The industrial products company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $63.90 million during the quarter, compared to analysts’ expectations of $62.05 million. Manitex International had a positive return on equity of 6.07% and a negative net margin of 1.98%.
In related news, Director Robert S. Gigliotti sold 4,400 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $11.71, for a total value of $51,524.00. Following the transaction, the director now owns 83,750 shares in the company, valued at approximately $980,712.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.78% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MNTX. Acadian Asset Management LLC bought a new position in Manitex International in the 2nd quarter worth about $116,000. Macquarie Group Ltd. purchased a new position in Manitex International in the 2nd quarter worth about $122,000. Element Capital Management LLC purchased a new position in Manitex International in the 1st quarter worth about $142,000. Rhumbline Advisers purchased a new position in Manitex International in the 2nd quarter worth about $152,000. Finally, Private Advisor Group LLC purchased a new position in Manitex International in the 2nd quarter worth about $166,000. Institutional investors own 56.36% of the company’s stock.
Manitex International stock remained flat at $$10.27 during mid-day trading on Monday. 643 shares of the company’s stock were exchanged, compared to its average volume of 56,813. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The stock has a market cap of $200.57 million, a P/E ratio of 51.35 and a beta of 1.30. Manitex International has a fifty-two week low of $7.28 and a fifty-two week high of $13.26.
About Manitex International
Manitex International, Inc provides engineered lifting solutions. The company designs, manufactures, and distributes products that are used in various industries. It offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development, including roads, bridges, and commercial construction.
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