Q2 2024 Earnings Estimate for Manitex International, Inc. Issued By Northland Capmk (NASDAQ:MNTX)

Manitex International, Inc. (NASDAQ:MNTX) – Analysts at Northland Capmk reduced their Q2 2024 earnings estimates for shares of Manitex International in a research note issued to investors on Friday, May 3rd. Northland Capmk analyst E. Jackson now forecasts that the industrial products company will post earnings per share of $0.08 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.

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

Manitex International Stock Performance

Shares of MNTX opened at $7.60 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 1.57. The stock has a market capitalization of $154.74 million, a price-to-earnings ratio of 16.17 and a beta of 0.86. Manitex International has a 52-week low of $3.72 and a 52-week high of $9.16. The stock’s 50-day simple moving average is $6.32 and its 200 day simple moving average is $6.74.

Manitex International (NASDAQ:MNTX) last posted its quarterly 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. The firm had revenue of $78.65 million during the quarter, compared to analyst estimates of $74.83 million. Manitex International had a return on equity of 19.42% and a net margin of 3.23%.

Hedge Funds Weigh In On Manitex International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNTX. Russell Investments Group Ltd. bought a new stake in shares of Manitex International during the 4th quarter valued at about $27,000. My Personal CFO LLC bought a new stake in Manitex International during the fourth quarter valued at approximately $87,000. Ritholtz Wealth Management purchased a new position in Manitex International in the 4th quarter worth approximately $111,000. Cutter & CO Brokerage Inc. bought a new position in shares of Manitex International in the 1st quarter worth $128,000. Finally, First Eagle Investment Management LLC raised its position 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 valued at $1,406,000 after buying an additional 42,261 shares in the last quarter. 46.01% of the stock is currently owned by hedge funds and other institutional investors.

About Manitex International

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.