Wall Street brokerages expect Manitowoc Food Service, Inc. (NYSE:WBT) to announce earnings of $0.24 per share for the current quarter, according to Zacks. Four analysts have made estimates for Manitowoc Food Service’s earnings. The lowest EPS estimate is $0.22 and the highest is $0.27. Manitowoc Food Service reported earnings of $0.20 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The firm is expected to report its next earnings report before the market opens on Monday, November 6th.
On average, analysts expect that Manitowoc Food Service will report full-year earnings of $0.78 per share for the current financial year, with EPS estimates ranging from $0.74 to $0.83. For the next financial year, analysts expect that the company will post earnings of $0.94 per share, with EPS estimates ranging from $0.85 to $0.97. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Manitowoc Food Service.
Manitowoc Food Service (NYSE:WBT) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $371.10 million for the quarter, compared to analysts’ expectations of $367.28 million. Manitowoc Food Service had a negative return on equity of 280.03% and a net margin of 5.57%. The business’s quarterly revenue was up .7% on a year-over-year basis.
A number of equities analysts have issued reports on WBT shares. Zacks Investment Research raised Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Saturday, August 12th. Robert W. Baird set a $22.00 target price on Manitowoc Food Service and gave the stock a “buy” rating in a report on Thursday, August 24th. Citigroup Inc. upped their target price on Manitowoc Food Service from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Longbow Research started coverage on Manitowoc Food Service in a report on Tuesday, October 10th. They issued a “neutral” rating for the company. Finally, Dougherty & Co reaffirmed a “neutral” rating on shares of Manitowoc Food Service in a report on Thursday, August 17th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.29.
Manitowoc Food Service (WBT) traded down 0.05% during trading on Friday, reaching $21.91. The company had a trading volume of 873,168 shares. Manitowoc Food Service has a 12-month low of $14.93 and a 12-month high of $23.46. The firm’s 50 day moving average price is $22.16 and its 200 day moving average price is $20.23. The firm has a market capitalization of $3.04 billion, a PE ratio of 37.84 and a beta of 2.46.
In related news, Director Brian R. Gamache purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $19.68 per share, with a total value of $196,800.00. Following the completion of the purchase, the director now owns 14,776 shares in the company, valued at approximately $290,791.68. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.67% of the company’s stock.
Several institutional investors have recently made changes to their positions in WBT. UBS Asset Management Americas Inc. bought a new stake in shares of Manitowoc Food Service during the 1st quarter valued at about $2,157,000. Ameriprise Financial Inc. bought a new stake in shares of Manitowoc Food Service during the 1st quarter valued at about $4,510,000. Parametric Portfolio Associates LLC bought a new stake in shares of Manitowoc Food Service during the 1st quarter valued at about $3,584,000. Alliancebernstein L.P. bought a new stake in shares of Manitowoc Food Service during the 1st quarter valued at about $2,731,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Manitowoc Food Service during the 1st quarter valued at about $490,000. Institutional investors own 88.30% of the company’s stock.
About Manitowoc Food Service
Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Manitowoc Food Service Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manitowoc Food Service Inc. and related companies with MarketBeat.com's FREE daily email newsletter.