Welbilt, Inc (WBT) Expected to Announce Quarterly Sales of $420.90 Million

Wall Street analysts expect Welbilt, Inc (NYSE:WBT) to post sales of $420.90 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Welbilt’s earnings, with estimates ranging from $419.20 million to $425.10 million. Welbilt reported sales of $380.40 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.6%. The business is scheduled to issue its next earnings results on Monday, November 5th.

According to Zacks, analysts expect that Welbilt will report full year sales of $1.59 billion for the current financial year, with estimates ranging from $1.58 billion to $1.60 billion. For the next fiscal year, analysts expect that the business will post sales of $1.69 billion, with estimates ranging from $1.68 billion to $1.70 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Welbilt.

Welbilt (NYSE:WBT) last announced its quarterly earnings data on Thursday, August 9th. The industrial products company reported $0.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.20. The firm had revenue of $420.70 million during the quarter, compared to analyst estimates of $401.45 million. Welbilt had a net margin of 8.14% and a return on equity of 110.60%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS.

WBT has been the subject of a number of recent research reports. Barclays set a $25.00 price objective on shares of Welbilt and gave the stock a “buy” rating in a report on Monday, August 20th. Zacks Investment Research upgraded shares of Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, July 26th. Citigroup lowered their price objective on shares of Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, August 15th. Finally, CL King initiated coverage on shares of Welbilt in a report on Thursday, June 28th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $24.40.

In related news, EVP Richard N. Caron sold 9,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $21.88, for a total transaction of $196,920.00. Following the completion of the sale, the executive vice president now directly owns 100 shares in the company, valued at approximately $2,188. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC bought a new stake in Welbilt during the 2nd quarter valued at $200,000. Fort L.P. bought a new stake in Welbilt during the 2nd quarter valued at $126,000. Diamond Hill Capital Management Inc. bought a new stake in Welbilt during the 2nd quarter valued at $210,000. Thompson Investment Management Inc. bought a new stake in Welbilt during the 2nd quarter valued at $217,000. Finally, Colony Group LLC bought a new stake in Welbilt during the 2nd quarter valued at $229,000. Institutional investors own 89.56% of the company’s stock.

Shares of WBT traded up $0.10 during mid-day trading on Friday, reaching $18.65. The company’s stock had a trading volume of 3,408 shares, compared to its average volume of 924,579. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 24.21 and a beta of 1.12. The company has a debt-to-equity ratio of 10.00, a quick ratio of 0.80 and a current ratio of 1.41. Welbilt has a 52 week low of $18.31 and a 52 week high of $23.85.

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.

See Also: Technical Analysis of Stocks and What It Means

Get a free copy of the Zacks research report on Welbilt (WBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Welbilt (NYSE:WBT)

Receive News & Ratings for Welbilt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Welbilt and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply