Equities research analysts expect Welbilt, Inc (NYSE:WBT) to post $412.88 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Welbilt’s earnings, with the highest sales estimate coming in at $432.60 million and the lowest estimate coming in at $404.10 million. Welbilt posted sales of $406.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The business is expected to report its next quarterly earnings report on Tuesday, February 18th.
On average, analysts expect that Welbilt will report full-year sales of $1.63 billion for the current year, with estimates ranging from $1.62 billion to $1.65 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.68 billion, with estimates ranging from $1.66 billion to $1.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Welbilt.
Welbilt (NYSE:WBT) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The firm had revenue of $410.50 million during the quarter, compared to analyst estimates of $423.03 million. Welbilt had a net margin of 3.82% and a return on equity of 48.23%. Welbilt’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share.
WBT has been the subject of several recent analyst reports. Barclays restated a “buy” rating and issued a $20.00 target price on shares of Welbilt in a research note on Wednesday, October 16th. ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Zacks Investment Research downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, BMO Capital Markets assumed coverage on shares of Welbilt in a research note on Friday, October 18th. They set a “market perform” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.40.
In related news, CEO William Johnson acquired 13,496 shares of the stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average cost of $14.82 per share, for a total transaction of $200,010.72. Following the completion of the purchase, the chief executive officer now owns 78,502 shares of the company’s stock, valued at approximately $1,163,399.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.37% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new position in shares of Welbilt during the second quarter worth $40,000. Huntington National Bank raised its holdings in shares of Welbilt by 39.8% during the second quarter. Huntington National Bank now owns 4,571 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 1,301 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Welbilt during the second quarter worth $129,000. AdvisorNet Financial Inc raised its holdings in shares of Welbilt by 9.2% during the third quarter. AdvisorNet Financial Inc now owns 9,524 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 800 shares during the last quarter. Finally, CWM Advisors LLC purchased a new position in shares of Welbilt during the second quarter worth $176,000.
WBT traded down $0.12 during trading on Thursday, hitting $18.16. The stock had a trading volume of 1,032,393 shares, compared to its average volume of 1,291,754. The company has a market capitalization of $2.58 billion, a PE ratio of 23.28 and a beta of 1.70. Welbilt has a twelve month low of $10.66 and a twelve month high of $19.81. The company has a debt-to-equity ratio of 6.81, a quick ratio of 1.07 and a current ratio of 1.70. The stock has a 50 day simple moving average of $17.60 and a two-hundred day simple moving average of $16.53.
Welbilt Company Profile
Welbilt is a leading global supplier of commercial foodservice equipment. Their broad, award-winning hot- and cold-side product portfolio includes many brands, including Cleveland Range, Convotherm, Delfield, Frymaster, Garland, Kolpak, Lincoln, Manitowac, Merco, Merrychef, and Multiplex Beverage.
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