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 $21.29 on Wednesday. The firm has a market capitalization of $2,921.11, a PE ratio of 30.43, a P/E/G ratio of 2.69 and a beta of 2.22. Manitowoc Food Service, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $23.46. The company has a quick ratio of 0.75, a current ratio of 1.31 and a debt-to-equity ratio of 117.60.

Manitowoc Food Service (NYSE:WBT) last released its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The business had revenue of $380.40 million during the quarter, compared to analyst estimates of $387.05 million. Manitowoc Food Service had a negative return on equity of 491.80% and a net margin of 6.14%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. analysts forecast that Manitowoc Food Service, Inc. will post 0.78 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on WBT shares. Citigroup Inc. upped their price target on Manitowoc Food Service from $20.00 to $24.00 and gave the stock a neutral rating in a report on Friday, October 13th. Zacks Investment Research lowered Manitowoc Food Service from a buy rating to a hold rating in a research note on Wednesday, October 18th. KeyCorp reiterated a buy rating and set a $25.00 price objective on shares of Manitowoc Food Service in a research note on Thursday, October 12th. Longbow Research initiated coverage on Manitowoc Food Service in a research note on Tuesday, October 10th. They set a neutral rating for the company. Finally, Robert W. Baird set a $22.00 price objective on Manitowoc Food Service and gave the stock a buy rating in a research note on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $22.29.

In other news, Director Brian R. Gamache acquired 10,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was bought 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 in the company, valued at $290,791.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by insiders.

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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.

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

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