FY2017 Earnings Forecast for Manitowoc Food Service, Inc. (WBT) Issued By Seaport Global Securities

Manitowoc Food Service, Inc. (NYSE:WBT) – Stock analysts at Seaport Global Securities increased their FY2017 EPS estimates for Manitowoc Food Service in a research report issued on Thursday. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will earn $0.83 per share for the year, up from their previous estimate of $0.75. Seaport Global Securities also issued estimates for Manitowoc Food Service’s Q4 2017 earnings at $0.28 EPS and Q4 2018 earnings at $0.33 EPS.

A number of other analysts have also commented on the company. Zacks Investment Research raised Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Friday, April 28th. Barclays PLC increased their price objective on Manitowoc Food Service from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.20.

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Shares of Manitowoc Food Service (NYSE:WBT) opened at 19.54 on Friday. The firm’s 50-day moving average is $19.27 and its 200 day moving average is $19.36. Manitowoc Food Service has a 52 week low of $14.93 and a 52 week high of $21.13. The firm has a market cap of $2.72 billion, a PE ratio of 33.75 and a beta of 2.28.

Manitowoc Food Service (NYSE:WBT) last announced its earnings results on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $371.10 million for the quarter, compared to analysts’ expectations of $367.28 million. The business’s revenue for the quarter was up .7% on a year-over-year basis.

Several institutional investors have recently added to or reduced their stakes in WBT. Public Employees Retirement Association of Colorado purchased a new position in Manitowoc Food Service during the first quarter worth approximately $625,000. Baird Financial Group Inc. purchased a new position in Manitowoc Food Service during the first quarter worth approximately $234,000. State of Wisconsin Investment Board purchased a new position in Manitowoc Food Service during the first quarter worth approximately $9,315,000. Bank of New York Mellon Corp purchased a new position in Manitowoc Food Service during the first quarter worth approximately $9,887,000. Finally, Russell Investments Group Ltd. purchased a new position in Manitowoc Food Service during the first quarter worth approximately $3,956,000. Institutional investors own 86.83% of the company’s stock.

In other Manitowoc Food Service news, SVP Joel H. Horn sold 1,561 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $19.23, for a total value of $30,018.03. Following 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 SEC, which can be accessed through this link. 0.67% of the stock is currently owned by company 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.

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

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