Active Broker’s Concerns In Focus: Deutsche Bank (NYSE:DB), Manitex International (NASDAQ:MNTX)

Deutsche Bank AG (NYSE:DB) [Trend Analysis] retains strong position in active trade, as shares scoring -1.09% to $18.17 in a active trade session, while looking at the shares volume, around 427705 shares have changed hands in this session. Deutsche Bank (DB) revealed that it has reached a $7.2 billion settlement contract with the U.S. Department of Justice regarding its residential mortgage-backed securities investigation. We will maintain our fair value estimates for Deutsche Bank at EUR 16.60 per share and $18.30 per ADR as well as our no-moat rating.As was widely expected, the fine is not as high as the originally pronounced figure of $14 billion. However, the total fine is higher than our expectation of $4.7 billion and at the higher end of what the Street was estimating. The total fine will be split into a civil litigation charge of $3.1 billion in cash and $4.1 billion in consumer relief in the United States. The bank indicated that it will take a $1.17 billion charge in the fourth quarter to reflect the DOJ settlement. The consumer relief will be in the form of loan modifications and additional assistance to homeowners and borrowers over a period of at least five years. DB attains analyst recommendation of 4.00 with week’s performance of 0.60%. Investors looking further ahead will note that the Price to next year’s EPS is 581.50%.

Manitex International, Inc. (NASDAQ:MNTX) [Trend Analysis] knocking active thrust in leading trading session, shares an increase of 0.40% to 7.50 with around 5450 shares have changed hands in this session. Manitex International, Inc. (NASDAQ:MNTX) reported that it has sold its CVS Ferrari, S.r.l. subsidiary to two Italian companies BP S.r.l. and NEIP III S.P.A., for $5 million in cash, and the assumption of $14 million of net CVS debt. CVS was originally acquired by Manitex in July 2011 for consideration of $4 million in cash, and the assumption of $1 million in CVS debt. Trailing 12 months (TTM) incomeand EBITDA for CVS were approximately $50 million and $2 million, respectively, at the time of sale.

David J. Langevin, Chairman and CEO of Manitex, commented, “The divestiture of CVS is another important step forward in our corporate program to focus our resources on our higher margin core lifting businesses and to reduce the Company’s indebtedness which remain our top corporate priorities heading into 2017. CVS is a solid strategic fit with the Purchasers and this transaction should be of substantial benefit to all parties. We are deeply appreciative of the efforts of the entire CVS team and are confident that Purchasers will be an excellent owners and operators of this business.” The stock is going forward its fifty-two week low with 76.47% and lagging behind from its 52-week high price with -2.34%.

Similar, the positive performance for the quarter recorded as 49.40% and for the year was 17.64%, while the YTD performance remained at 25.55%. MNTX has Average True Range for 14 days of 0.42.

 

About Aaron Smithies

Aaron Smithies has a wide look on current monetary and financial events. He is an editor and a writer. His views; At Streetwise Report, we think the best opportunities arise from a complete understanding of all investing disciplines in order to identify the most attractive stocks at any given time. Interests: Biotech, Finical markets, Dividend stock ideas & income, Energy stocks, Consumer goods stocks

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