Manitowoc Foodservice Inc. to Post FY2016 Earnings of $0.63 Per Share, KeyCorp Forecasts (MFS)
Manitowoc Foodservice Inc. (NYSE:MFS) – Equities researchers at KeyCorp reduced their FY2016 earnings per share (EPS) estimates for shares of Manitowoc Foodservice in a note issued to investors on Tuesday. KeyCorp analyst J. Picariello now forecasts that the brokerage will post earnings of $0.63 per share for the year, down from their previous estimate of $0.66.
Manitowoc Foodservice (NYSE:MFS) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.04. The firm earned $368.40 million during the quarter, compared to analyst estimates of $379 million.
A number of other brokerages have also issued reports on MFS. Zacks Investment Research lowered Manitowoc Foodservice from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Barclays PLC lifted their price target on Manitowoc Foodservice from $13.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, August 15th. Finally, William Blair raised Manitowoc Foodservice from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Monday, July 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.14.
Manitowoc Foodservice (NYSE:MFS) opened at 16.70 on Thursday. The stock’s 50 day moving average price is $16.34 and its 200-day moving average price is $16.39. Manitowoc Foodservice has a 52-week low of $13.20 and a 52-week high of $18.94. The company has a market cap of $2.29 billion and a P/E ratio of 16.47.
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. 80.87% of the stock is owned by institutional investors and hedge funds.
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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