Wall Street analysts predict that Welbilt, Inc (NYSE:WBT) will report sales of $372.75 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Welbilt’s earnings. The highest sales estimate is $379.90 million and the lowest is $368.80 million. Welbilt reported sales of $350.40 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.4%. The firm is scheduled to issue its next earnings report on Monday, May 6th.
According to Zacks, analysts expect that Welbilt will report full year sales of $1.66 billion for the current year, with estimates ranging from $1.65 billion to $1.67 billion. For the next year, analysts anticipate that the company will report sales of $1.72 billion, with estimates ranging from $1.71 billion to $1.74 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Welbilt.
Welbilt (NYSE:WBT) last announced its quarterly earnings data on Tuesday, February 19th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $406.10 million for the quarter, compared to analysts’ expectations of $391.96 million. Welbilt had a net margin of 4.76% and a return on equity of 71.21%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share.
WBT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. ValuEngine upgraded shares of Welbilt from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Barclays restated a “buy” rating and issued a $19.00 target price on shares of Welbilt in a research report on Wednesday, February 20th. Robert W. Baird set a $18.00 target price on shares of Welbilt and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, Longbow Research set a $16.00 target price on shares of Welbilt and gave the company a “buy” rating in a research report on Monday, January 14th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $20.63.
Shares of NYSE:WBT opened at $16.99 on Tuesday. The company has a market capitalization of $2.36 billion, a P/E ratio of 21.78 and a beta of 1.81. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 7.09. Welbilt has a 1 year low of $10.66 and a 1 year high of $23.85.
In other Welbilt news, EVP Joel H. Horn sold 2,999 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $16.06, for a total value of $48,163.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Haresh Shah sold 1,849 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $16.06, for a total transaction of $29,694.94. The disclosure for this sale can be found here. Insiders sold 29,760 shares of company stock worth $478,775 in the last 90 days. Company insiders own 0.37% of the company’s stock.
Several large investors have recently modified their holdings of WBT. Huntington National Bank lifted its holdings in shares of Welbilt by 99.0% during the first quarter. Huntington National Bank now owns 3,270 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 1,627 shares during the period. Cutler Group LP acquired a new position in shares of Welbilt during the fourth quarter worth $55,000. Nisa Investment Advisors LLC lifted its holdings in shares of Welbilt by 72.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 4,400 shares during the period. Virtu Financial LLC acquired a new position in shares of Welbilt during the fourth quarter worth $190,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Welbilt during the fourth quarter worth $214,000. Institutional investors own 96.46% of the company’s stock.
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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