Equities research analysts expect Manitowoc Food Service, Inc. (NYSE:WBT) to post earnings of $0.25 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Manitowoc Food Service’s earnings. The lowest EPS estimate is $0.22 and the highest is $0.28. Manitowoc Food Service posted earnings of $0.16 per share in the same quarter last year, which suggests a positive year over year growth rate of 56.3%. The firm is expected to announce its next earnings results on Wednesday, February 21st.
According to Zacks, analysts expect that Manitowoc Food Service will report full-year earnings of $0.78 per share for the current fiscal year, with EPS estimates ranging from $0.74 to $0.80. For the next financial year, analysts anticipate that the company will report earnings of $0.94 per share, with EPS estimates ranging from $0.85 to $1.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Manitowoc Food Service.
Manitowoc Food Service (NYSE:WBT) last released its earnings results on Monday, November 6th. The industrial products company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). Manitowoc Food Service had a negative return on equity of 2,645.52% and a net margin of 6.14%. The business had revenue of $380.40 million for the quarter, compared to analysts’ expectations of $387.05 million. The company’s revenue was down .9% compared to the same quarter last year.
Several equities research analysts have commented on WBT shares. Citigroup Inc. upped their price target on Manitowoc Food Service from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Zacks Investment Research lowered Manitowoc Food Service from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and issued a $25.00 target price on shares of Manitowoc Food Service in a research note on Thursday, October 12th. Longbow Research assumed coverage on Manitowoc Food Service in a research note on Tuesday, October 10th. They issued a “neutral” rating for the company. Finally, Robert W. Baird set a $22.00 target price on Manitowoc Food Service and gave the company a “buy” rating in a research note on Thursday, August 24th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Manitowoc Food Service presently has a consensus rating of “Hold” and a consensus target price of $22.33.
Manitowoc Food Service (NYSE:WBT) traded up $0.20 during midday trading on Friday, reaching $21.81. The company had a trading volume of 943,800 shares, compared to its average volume of 795,663. The stock has a market capitalization of $3,030.00 and a P/E ratio of 31.32. The company has a debt-to-equity ratio of 29.38, a current ratio of 1.35 and a quick ratio of 0.79. Manitowoc Food Service has a 1 year low of $17.18 and a 1 year high of $23.46.
In other news, Director Brian R. Gamache bought 10,000 shares of Manitowoc Food Service stock in a transaction on Tuesday, August 29th. The shares were bought at an average price of $19.68 per share, with a total value of $196,800.00. Following the acquisition, the director now directly owns 14,776 shares in the company, valued at approximately $290,791.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Manitowoc Food Service during the 1st quarter valued at $100,454,000. State Street Corp acquired a new position in shares of Manitowoc Food Service during the 1st quarter valued at $32,795,000. Capital Research Global Investors increased its position in shares of Manitowoc Food Service by 91.3% during the 2nd quarter. Capital Research Global Investors now owns 3,000,000 shares of the industrial products company’s stock valued at $56,550,000 after purchasing an additional 1,431,642 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Manitowoc Food Service during the 1st quarter valued at $7,921,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Manitowoc Food Service during the 1st quarter valued at $6,864,000. 86.95% of the stock is currently owned by institutional investors and hedge funds.
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.