Manitowoc Foodservice Inc. to Post FY2016 Earnings of $0.63 Per Share, KeyCorp Forecasts (MFS)
Manitowoc Foodservice Inc. (NYSE:MFS) – Research analysts at KeyCorp reduced their FY2016 earnings estimates for Manitowoc Foodservice in a research note issued to investors on Tuesday. KeyCorp analyst J. Picariello now forecasts that the firm will post earnings per share of $0.63 for the year, down from their prior forecast of $0.66.
Manitowoc Foodservice (NYSE:MFS) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.04. The firm had revenue of $368.40 million for the quarter, compared to the consensus estimate of $379 million.
MFS has been the topic of a number of other research reports. William Blair upgraded Manitowoc Foodservice from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Monday, July 11th. Barclays PLC increased their price target on Manitowoc Foodservice from $13.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, August 15th. Finally, Zacks Investment Research upgraded Manitowoc Foodservice from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Thursday, July 14th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.14.
Shares of Manitowoc Foodservice (NYSE:MFS) opened at 16.70 on Thursday. The stock has a market cap of $2.29 billion and a P/E ratio of 16.47. Manitowoc Foodservice has a one year low of $13.20 and a one year high of $18.94. The stock has a 50 day moving average of $16.34 and a 200 day moving average of $16.39.
A hedge fund recently bought a new stake in Manitowoc Foodservice stock. Highwater Wealth Management LLC bought a new position in shares of Manitowoc Foodservice Inc. (NYSE:MFS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,000 shares of the company’s stock, valued at approximately $176,000. Manitowoc Foodservice makes up approximately 9.8% of Highwater Wealth Management LLC’s holdings, making the stock its 5th largest position. Hedge funds and other institutional investors own 80.87% of the company’s stock.
About Manitowoc Foodservice
Manitowoc Foodservice, Inc is a commercial foodservice equipment company. The Company designs, manufactures and services an integrated portfolio of hot and cold category products. The Company operates through three segments: Americas, EMEA and APAC. The Americas segment includes the United States, Canada and Latin America.
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