Manitowoc Food Service, Inc. (NYSE:WBT) Releases FY17 Earnings Guidance

Manitowoc Food Service, Inc. (NYSE:WBT) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.74-0.84 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.78. The company issued revenue guidance of -1.5% to +1.5% YoY to ~$1.43-1.48 billion, compared to the consensus revenue estimate of $1.47 billion.

Manitowoc Food Service, Inc. (NYSE WBT) opened at $21.36 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.79 and a debt-to-equity ratio of 29.38. The firm has a market capitalization of $2,971.58, a P/E ratio of 30.88, a P/E/G ratio of 2.77 and a beta of 2.22. Manitowoc Food Service, Inc. has a 12-month low of $17.18 and a 12-month high of $23.46.

Manitowoc Food Service (NYSE:WBT) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.01). The business had revenue of $380.40 million during the quarter, compared to analysts’ expectations of $387.05 million. Manitowoc Food Service had a net margin of 6.14% and a negative return on equity of 2,645.52%. The business’s revenue was down .9% compared to the same quarter last year. equities analysts predict that Manitowoc Food Service, Inc. will post 0.77 EPS for the current year.

Several brokerages have recently commented on WBT. Robert W. Baird set a $22.00 price target on Manitowoc Food Service and gave the company a buy rating in a research note on Thursday, August 24th. KeyCorp reaffirmed a buy rating and issued a $25.00 price target on shares of Manitowoc Food Service in a research note on Thursday, October 12th. Citigroup Inc. boosted their price objective on Manitowoc Food Service from $20.00 to $24.00 and gave the company a neutral rating in a report on Friday, October 13th. Zacks Investment Research upgraded Manitowoc Food Service from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Saturday, August 12th. Finally, Longbow Research initiated coverage on Manitowoc Food Service in a report on Tuesday, October 10th. They set a neutral rating on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $22.29.

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 cost of $19.68 per share, with a total value of $196,800.00. Following the transaction, the director now directly owns 14,776 shares in the company, valued at $290,791.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.67% of the stock is owned by corporate insiders.

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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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