Equities analysts predict that Welbilt, Inc (NYSE:WBT) will post $412.88 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Welbilt’s earnings, with estimates ranging from $404.10 million to $432.60 million. Welbilt posted sales of $406.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The firm is scheduled to announce its next earnings results on Tuesday, February 18th.
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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 year, analysts forecast that the firm will report sales of $1.68 billion, with estimates ranging from $1.66 billion to $1.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Welbilt.
Welbilt (NYSE:WBT) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). Welbilt had a net margin of 3.82% and a return on equity of 48.23%. The firm had revenue of $410.50 million during the quarter, compared to analysts’ expectations of $423.03 million. During the same period in the prior year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis.
WBT has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. BMO Capital Markets initiated coverage on shares of Welbilt in a research report on Friday, October 18th. They issued a “market perform” rating and a $19.00 target price on the stock. Zacks Investment Research downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Barclays reaffirmed a “buy” rating and issued a $20.00 target price on shares of Welbilt in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Welbilt has an average rating of “Hold” and an average price target of $18.40.
Shares of NYSE:WBT traded down $0.12 during trading hours on Thursday, reaching $18.16. The stock had a trading volume of 1,032,393 shares, compared to its average volume of 1,291,754. Welbilt has a 1 year low of $10.66 and a 1 year high of $19.81. The firm’s 50 day moving average is $17.60 and its 200-day moving average is $16.53. 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 market capitalization of $2.58 billion, a price-to-earnings ratio of 23.28 and a beta of 1.70.
In related news, CEO William Johnson bought 13,496 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average cost of $14.82 per share, with a total value of $200,010.72. Following the transaction, the chief executive officer now directly owns 78,502 shares of the company’s stock, valued at approximately $1,163,399.64. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of WBT. Nuveen Asset Management LLC purchased a new position in shares of Welbilt in the 2nd quarter valued at $135,031,000. Scopia Capital Management LP boosted its stake in Welbilt by 178.5% during the 2nd quarter. Scopia Capital Management LP now owns 5,764,889 shares of the industrial products company’s stock worth $96,274,000 after purchasing an additional 3,694,892 shares during the period. BlackRock Inc. boosted its stake in Welbilt by 56.8% during the 2nd quarter. BlackRock Inc. now owns 8,707,096 shares of the industrial products company’s stock worth $145,409,000 after purchasing an additional 3,152,913 shares during the period. JPMorgan Chase & Co. boosted its stake in Welbilt by 207.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,541,701 shares of the industrial products company’s stock worth $58,083,000 after purchasing an additional 2,391,225 shares during the period. Finally, Atlanta Capital Management Co. L L C boosted its stake in Welbilt by 91.0% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,323,504 shares of the industrial products company’s stock worth $22,103,000 after purchasing an additional 630,725 shares during the period.
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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