Wall Street analysts forecast that Welbilt, Inc (NYSE:WBT) will announce sales of $414.13 million for the current quarter, Zacks reports. Four analysts have issued estimates for Welbilt’s earnings. The lowest sales estimate is $405.80 million and the highest is $432.60 million. Welbilt reported sales of $406.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 18th.
According to Zacks, analysts expect that Welbilt will report full-year sales of $1.65 billion for the current fiscal year. For the next fiscal year, analysts forecast that the firm will post sales of $1.69 billion, with estimates ranging from $1.68 billion to $1.70 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Welbilt.
Welbilt (NYSE:WBT) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The business had revenue of $410.50 million for the quarter, compared to analyst estimates of $423.03 million. Welbilt had a return on equity of 52.45% and a net margin of 4.23%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share.
Several research firms have commented on WBT. BMO Capital Markets began coverage on shares of Welbilt in a research report on Friday, October 18th. They set a “market perform” rating and a $19.00 target price on the stock. Barclays reissued a “buy” rating and set a $20.00 target price on shares of Welbilt in a research report on Wednesday, October 16th. ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Citigroup raised Welbilt from a “neutral” rating to a “buy” rating and raised their price target for the company from $17.00 to $19.00 in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.40.
In other Welbilt news, CEO William Johnson purchased 13,496 shares of the stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $14.82 per share, with a total value of $200,010.72. Following the completion of the transaction, the chief executive officer now owns 78,502 shares in the company, valued at approximately $1,163,399.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.
Several large investors have recently modified their holdings of WBT. Strs Ohio acquired a new stake in shares of Welbilt in the second quarter valued at about $40,000. Huntington National Bank grew its position in 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 buying an additional 1,301 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Welbilt during the second quarter worth about $129,000. AdvisorNet Financial Inc grew its position in 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 buying an additional 800 shares in the last quarter. Finally, CWM Advisors LLC acquired a new stake in Welbilt during the second quarter worth about $176,000.
Welbilt stock opened at $18.38 on Thursday. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.70 and a quick ratio of 1.07. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 23.56 and a beta of 1.70. Welbilt has a one year low of $10.66 and a one year high of $19.81. The company’s fifty day moving average price is $17.56 and its two-hundred day moving average price is $16.52.
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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