Manitowoc Food Service, Inc. (NYSE:WBT) released its earnings results on Wednesday, August 9th. The industrial products company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04, MarketWatch Earnings reports. The company had revenue of $371.10 million for the quarter, compared to analysts’ expectations of $367.28 million. Manitowoc Food Service had a negative return on equity of 280.03% and a net margin of 5.57%. The firm’s revenue was up .7% compared to the same quarter last year. Manitowoc Food Service updated its FY17 guidance to $0.74-0.84 EPS.
Shares of Manitowoc Food Service (NYSE:WBT) traded down 0.10% during trading on Friday, hitting $19.67. The company had a trading volume of 335,249 shares. The stock’s 50-day moving average price is $19.42 and its 200 day moving average price is $19.38. The company has a market capitalization of $2.73 billion, a P/E ratio of 33.97 and a beta of 2.28. Manitowoc Food Service has a 52 week low of $14.93 and a 52 week high of $21.13.
Several research analysts have recently commented on WBT shares. Zacks Investment Research raised Manitowoc Food Service from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Friday, April 28th. Dougherty & Co reaffirmed a “neutral” rating on shares of Manitowoc Food Service in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Manitowoc Food Service presently has an average rating of “Buy” and a consensus target price of $21.40.
In related news, SVP Joel H. Horn sold 1,561 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $19.23, for a total transaction of $30,018.03. Following the transaction, the senior vice president now owns 3,515 shares of the company’s stock, valued at $67,593.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.
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