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

Manitex International, Inc. (NASDAQ:MNTX) – Equities research analysts at Northland Capmk dropped their Q2 2024 earnings per share (EPS) estimates for Manitex International in a research note 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 prior 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.

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

Manitex International Stock Performance

NASDAQ MNTX opened at $6.37 on Monday. Manitex International has a 52-week low of $3.72 and a 52-week high of $9.16. The business’s 50-day moving average price is $6.32 and its 200 day moving average price is $6.75. The firm has a market cap of $129.69 million, a P/E ratio of 13.55 and a beta of 0.86. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.86.

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

Institutional Investors Weigh In On Manitex International

Several institutional investors have recently modified their holdings of the company. Kennedy Capital Management LLC boosted its stake in shares of Manitex International by 2.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 315,641 shares of the industrial products company’s stock worth $1,474,000 after acquiring an additional 7,123 shares in the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of Manitex International by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 307,868 shares of the industrial products company’s stock worth $2,112,000 after acquiring an additional 4,666 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Manitex International by 16.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 301,084 shares of the industrial products company’s stock worth $1,406,000 after acquiring an additional 42,261 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new stake in shares of Manitex International during the 1st quarter worth approximately $128,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of Manitex International during the 4th quarter worth approximately $111,000. Hedge funds and other 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.