Brokerages forecast that Welbilt, Inc (NYSE:WBT) will announce sales of $430.43 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Welbilt’s earnings, with estimates ranging from $425.30 million to $436.40 million. Welbilt reported sales of $412.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 4th.
According to Zacks, analysts expect that Welbilt will report full year sales of $1.65 billion for the current financial year, with estimates ranging from $1.64 billion to $1.67 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.71 billion, with estimates ranging from $1.70 billion to $1.73 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Welbilt.
Welbilt (NYSE:WBT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $426.30 million during the quarter, compared to analysts’ expectations of $427.07 million. Welbilt had a return on equity of 52.45% and a net margin of 4.23%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Citigroup raised Welbilt from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $19.00 in a research note on Wednesday, July 10th. Finally, ValuEngine raised Welbilt from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $19.67.
A number of institutional investors have recently made changes to their positions in WBT. Nuveen Asset Management LLC bought a new position in Welbilt during the second quarter valued at approximately $135,031,000. Scopia Capital Management LP boosted its stake in Welbilt by 178.5% during the second quarter. Scopia Capital Management LP now owns 5,764,889 shares of the industrial products company’s stock valued at $96,274,000 after buying an additional 3,694,892 shares during the last quarter. BlackRock Inc. boosted its stake in Welbilt by 56.8% during the second quarter. BlackRock Inc. now owns 8,707,096 shares of the industrial products company’s stock valued at $145,409,000 after buying an additional 3,152,913 shares during the last quarter. FMR LLC boosted its stake in Welbilt by 279.6% during the first quarter. FMR LLC now owns 3,573,391 shares of the industrial products company’s stock valued at $58,533,000 after buying an additional 2,631,930 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Welbilt by 207.8% during the second quarter. JPMorgan Chase & Co. now owns 3,541,701 shares of the industrial products company’s stock valued at $58,083,000 after buying an additional 2,391,225 shares during the last quarter. 98.85% of the stock is owned by institutional investors.
Shares of NYSE WBT traded up $0.18 during mid-day trading on Thursday, reaching $15.45. The company’s stock had a trading volume of 1,227,800 shares, compared to its average volume of 1,315,464. The firm has a market capitalization of $2.15 billion, a PE ratio of 19.81 and a beta of 1.66. 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 stock has a fifty day moving average of $16.29 and a two-hundred day moving average of $16.07. Welbilt has a 52 week low of $10.66 and a 52 week high of $22.41.
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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