Manitowoc Food Service, Inc. (WBT) Set to Announce Earnings on Monday
Manitowoc Food Service, Inc. (NYSE:WBT) will be releasing its earnings data before the market opens on Monday, November 6th. Analysts expect Manitowoc Food Service to post earnings of $0.25 per share for the quarter. Manitowoc Food Service has set its FY17 guidance at $0.74-0.84 EPS.
Manitowoc Food Service (NYSE:WBT) last announced its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $371.10 million during 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 company’s revenue was up .7% compared to the same quarter last year. On average, analysts expect Manitowoc Food Service to post $0.78 EPS for the current fiscal year and $0.94 EPS for the next fiscal year.
Shares of Manitowoc Food Service, Inc. (NYSE:WBT) traded down 0.420% during trading on Monday, hitting $21.818. The stock had a trading volume of 150,257 shares. The firm has a 50-day moving average of $22.16 and a 200 day moving average of $20.23. Manitowoc Food Service, Inc. has a 1-year low of $14.93 and a 1-year high of $23.46. The company has a market capitalization of $3.03 billion, a P/E ratio of 37.682 and a beta of 2.42.
In other news, Director Brian R. Gamache acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of $19.68 per share, for a total transaction of $196,800.00. Following the purchase, the director now owns 14,776 shares in the company, valued at approximately $290,791.68. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.67% of the company’s stock.
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A number of equities research analysts recently weighed in on WBT shares. Citigroup Inc. upped their target price on shares of Manitowoc Food Service from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Zacks Investment Research upgraded shares of Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, July 13th. KeyCorp restated a “buy” rating and issued a $25.00 target price on shares of Manitowoc Food Service in a report on Thursday, October 12th. Longbow Research started coverage on shares of Manitowoc Food Service in a report on Tuesday, October 10th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird set a $22.00 target price on shares of Manitowoc Food Service and gave the stock a “buy” rating in a report on Thursday, August 24th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Manitowoc Food Service currently has an average rating of “Hold” and an average target price of $22.29.
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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