Manitowoc Food Service, Inc. (NYSE:WBT) - Research analysts at Dougherty & Co issued their Q3 2017 earnings per share (EPS) estimates for Manitowoc Food Service in a report issued on Thursday. Dougherty & Co analyst J. Fisher anticipates that the industrial products company will post earnings per share of $0.22 for the quarter. Dougherty & Co currently has a “Neutral” rating on the stock. Dougherty & Co also issued estimates for Manitowoc Food Service’s FY2017 earnings at $0.74 EPS and FY2018 earnings at $0.93 EPS.
Manitowoc Food Service (NYSE:WBT) last released its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. Manitowoc Food Service had a negative return on equity of 280.03% and a net margin of 5.57%. The business had revenue of $371.10 million during the quarter, compared to analyst estimates of $367.28 million. The firm’s quarterly revenue was up .7% on a year-over-year basis.
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Separately, Zacks Investment Research upgraded Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Manitowoc Food Service presently has an average rating of “Buy” and an average target price of $21.40.
Manitowoc Food Service (WBT) opened at 19.68 on Monday. The stock’s 50 day moving average price is $19.43 and its 200 day moving average price is $19.38. Manitowoc Food Service has a 52-week low of $14.93 and a 52-week high of $21.13. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 33.99 and a beta of 2.28.
Several hedge funds have recently made changes to their positions in WBT. Kensico Capital Management Corp bought a new stake in shares of Manitowoc Food Service during the first quarter valued at about $228,493,000. Vanguard Group Inc. bought a new stake in shares of Manitowoc Food Service during the first quarter valued at about $213,092,000. Abrams Capital Management L.P. bought a new stake in shares of Manitowoc Food Service during the first quarter valued at about $148,031,000. Investec Asset Management LTD bought a new stake in shares of Manitowoc Food Service during the first quarter valued at about $134,818,000. Finally, BlackRock Inc. bought a new stake in shares of Manitowoc Food Service during the first quarter valued at about $100,454,000. 87.40% of the stock is owned by institutional investors.
In other news, SVP Joel H. Horn sold 1,561 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $19.23, for a total transaction of $30,018.03. Following the completion of the sale, the senior vice president now directly owns 3,515 shares of the company’s stock, valued at approximately $67,593.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is owned by insiders.
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.
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