Northland Capmk Analysts Cut Earnings Estimates for Manitex International, Inc. (NASDAQ:MNTX)

Manitex International, Inc. (NASDAQ:MNTX) – Equities research analysts at Northland Capmk reduced their Q2 2024 earnings per share (EPS) estimates for shares of Manitex International in a report issued on Friday, May 3rd. Northland Capmk analyst E. Jackson now anticipates that the industrial products company will post earnings of $0.08 per share for the quarter, down from their previous estimate of $0.11. The consensus estimate for Manitex International’s current full-year earnings is $0.35 per share. Northland Capmk also issued estimates for Manitex International’s Q3 2024 earnings at $0.05 EPS, FY2025 earnings at $0.44 EPS, FY2026 earnings at $0.56 EPS and FY2027 earnings at $0.67 EPS.

Manitex International (NASDAQ:MNTX) last released its quarterly earnings results on Thursday, February 29th. The industrial products company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.19. The company had revenue of $78.65 million for the quarter, compared to analyst estimates of $74.83 million. Manitex International had a net margin of 3.23% and a return on equity of 19.42%.

Separately, StockNews.com upgraded Manitex International from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th.

Manitex International Stock Performance

Shares of MNTX opened at $5.62 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.57 and a quick ratio of 0.68. Manitex International has a one year low of $3.72 and a one year high of $9.16. The company’s fifty day moving average price is $6.30 and its 200 day moving average price is $6.71. The company has a market capitalization of $114.42 million, a PE ratio of 11.96 and a beta of 0.86.

Hedge Funds Weigh In On Manitex International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in Manitex International in the 4th quarter worth $27,000. My Personal CFO LLC acquired a new stake in Manitex International during the fourth quarter worth about $87,000. Ritholtz Wealth Management bought a new position in Manitex International during the fourth quarter valued at about $111,000. Cutter & CO Brokerage Inc. acquired a new position in Manitex International in the 1st quarter valued at approximately $128,000. Finally, First Eagle Investment Management LLC raised its holdings in Manitex International by 16.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 301,084 shares of the industrial products company’s stock valued at $1,406,000 after acquiring an additional 42,261 shares in the last quarter. Institutional investors own 46.01% of the company’s stock.

Manitex International Company Profile

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.