Brokerages forecast that Manitowoc Food Service, Inc. (NYSE:WBT) will announce $0.24 earnings per share for the current fiscal quarter, Zacks reports. 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 per share of $0.20 in the same quarter last year, which would suggest a positive year over year growth rate of 20%. The company is scheduled to announce its next earnings results before the market opens on Monday, November 6th.

According to Zacks, analysts expect that Manitowoc Food Service will report full year earnings of $0.78 per share for the current year, with EPS estimates ranging from $0.74 to $0.83. For the next year, analysts forecast 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 averages are an average based on a survey of analysts that follow 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, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $371.10 million for the quarter, compared to analyst estimates of $367.28 million. Manitowoc Food Service had a net margin of 5.57% and a negative return on equity of 280.03%. The firm’s revenue was up .7% compared to the same quarter last year.

A number of equities research analysts have recently commented on the company. Robert W. Baird set a $22.00 target price on Manitowoc Food Service and gave the stock a “buy” rating in a research note on Thursday, August 24th. KeyCorp reiterated a “buy” rating and set 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 set a “neutral” rating on the stock. Citigroup Inc. lifted their target price 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. Finally, Zacks Investment Research upgraded Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Saturday, August 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $22.29.

Shares of Manitowoc Food Service (NYSE WBT) traded up 1.220% during trading on Friday, hitting $21.995. 298,143 shares of the stock traded hands. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 37.988 and a beta of 2.42. The stock has a 50 day moving average price of $22.21 and a 200-day moving average price of $20.26. Manitowoc Food Service has a 1-year low of $14.93 and a 1-year high of $23.46.

ILLEGAL ACTIVITY WARNING: “Analysts Anticipate Manitowoc Food Service, Inc. (WBT) Will Post Earnings of $0.24 Per Share” was first posted by Watch List News and is owned by of Watch List News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.watchlistnews.com/analysts-anticipate-manitowoc-food-service-inc-wbt-will-post-earnings-of-0-24-per-share/1668267.html.

In other news, Director Brian R. Gamache acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $19.68 per share, for a total transaction of $196,800.00. Following the purchase, the director now owns 14,776 shares of the company’s stock, valued at approximately $290,791.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.67% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY bought a new stake in Manitowoc Food Service in the 1st quarter valued at about $115,000. Teacher Retirement System of Texas bought a new stake in Manitowoc Food Service in the 1st quarter valued at about $203,000. BlueCrest Capital Management Ltd bought a new stake in Manitowoc Food Service in the 1st quarter valued at about $203,000. UBS Group AG bought a new stake in Manitowoc Food Service in the 1st quarter valued at about $247,000. Finally, Amalgamated Bank bought a new stake in Manitowoc Food Service in the 1st quarter valued at about $359,000. Institutional investors and hedge funds own 87.82% of the company’s stock.

Manitowoc Food Service Company Profile

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 Analyst Ratings Network's FREE daily email newsletter.