Manitowoc Food Service, Inc. (NYSE:WBT) – Analysts at Seaport Global Securities boosted their FY2017 earnings estimates for Manitowoc Food Service in a 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 prior forecast 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.

Manitowoc Food Service (NYSE:WBT) last released its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. Manitowoc Food Service had a negative return on equity of 193.31% and a net margin of 5.57%. The firm had revenue of $371.10 million during the quarter, compared to analysts’ expectations of $367.28 million. Manitowoc Food Service’s quarterly revenue was up .7% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “FY2017 EPS Estimates for Manitowoc Food Service, Inc. (NYSE:WBT) Increased by Analyst” was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.watchlistnews.com/fy2017-eps-estimates-for-manitowoc-food-service-inc-nysewbt-increased-by-analyst/1471880.html.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Friday, April 28th. Barclays PLC upped their target price on Manitowoc Food Service from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Manitowoc Food Service currently has an average rating of “Buy” and a consensus price target of $21.20.

Manitowoc Food Service (NYSE WBT) traded up 0.46% during midday trading on Friday, reaching $19.50. The company had a trading volume of 208,657 shares. The firm has a 50-day moving average of $19.25 and a 200-day moving average of $19.36. Manitowoc Food Service has a 12 month low of $14.93 and a 12 month high of $21.13. The stock has a market cap of $2.71 billion, a P/E ratio of 33.68 and a beta of 2.28.

In other Manitowoc Food Service news, SVP Joel H. Horn sold 1,561 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $19.23, for a total transaction of $30,018.03. Following the completion of the sale, the senior vice president now directly owns 3,515 shares in the company, valued at $67,593.45. The transaction 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 corporate insiders.

A number of large investors have recently added to or reduced their stakes in the company. Kensico Capital Management Corp acquired a new stake in Manitowoc Food Service during the first quarter valued at $228,493,000. Vanguard Group Inc. bought a new position in shares of Manitowoc Food Service during the first quarter valued at about $213,092,000. Abrams Capital Management L.P. bought a new position in shares of Manitowoc Food Service during the first quarter valued at about $148,031,000. Investec Asset Management LTD bought a new position in shares of Manitowoc Food Service during the first quarter valued at about $134,818,000. Finally, BlackRock Inc. bought a new position in shares of Manitowoc Food Service during the first quarter valued at about $100,454,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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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