Brokerages Anticipate Manitowoc Food Service, Inc. (WBT) to Post $0.24 EPS

Equities research analysts predict that Manitowoc Food Service, Inc. (NYSE:WBT) will announce earnings per share of $0.24 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Manitowoc Food Service’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.22. Manitowoc Food Service reported earnings of $0.20 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The company is expected to report its next earnings results 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 year, analysts expect that the company will report earnings of $0.94 per share, with EPS estimates ranging from $0.85 to $0.97. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Manitowoc Food Service.

Manitowoc Food Service (NYSE:WBT) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Manitowoc Food Service had a net margin of 5.57% and a negative return on equity of 280.03%. The firm had revenue of $371.10 million for the quarter, compared to analysts’ expectations of $367.28 million. The company’s revenue for the quarter was up .7% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on the company. Robert W. Baird set a $22.00 price target on Manitowoc Food Service and gave the stock a “buy” rating in a research note on Thursday, August 24th. Longbow Research initiated coverage on Manitowoc Food Service in a report on Tuesday. They set a “neutral” rating for the company. 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. Finally, Dougherty & Co reaffirmed a “neutral” rating on shares of Manitowoc Food Service in a report on Thursday, August 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Manitowoc Food Service presently has a consensus rating of “Buy” and an average target price of $21.40.

In other news, Director Brian R. Gamache bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $19.68 per share, with a total value of $196,800.00. Following the completion of the acquisition, the director now directly owns 14,776 shares of the company’s stock, valued at approximately $290,791.68. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.67% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in WBT. Great West Life Assurance Co. Can acquired a new stake in shares of Manitowoc Food Service during the first quarter worth about $236,000. US Bancorp DE acquired a new stake in shares of Manitowoc Food Service during the first quarter worth about $364,000. Bank of New York Mellon Corp acquired a new stake in shares of Manitowoc Food Service during the first quarter worth about $9,887,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Manitowoc Food Service during the first quarter worth about $2,157,000. Finally, Karp Capital Management Corp acquired a new stake in shares of Manitowoc Food Service during the first quarter worth about $798,000. 87.85% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Brokerages Anticipate Manitowoc Food Service, Inc. (WBT) to Post $0.24 EPS” was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://sportsperspectives.com/2017/10/12/brokerages-anticipate-manitowoc-food-service-inc-wbt-to-post-0-24-eps.html.

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.

Get a free copy of the Zacks research report on Manitowoc Food Service (WBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Manitowoc Food Service (NYSE:WBT)

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.

Latest News

Leave a Reply