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Zacks: Analysts Expect Welbilt, Inc (NYSE:WBT) Will Post Quarterly Sales of $276.53 Million

Last updated on Sunday, February 28, 2021 | 2021 MarketBeat

Analysts forecast that Welbilt, Inc (NYSE:WBT) will announce $276.53 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Welbilt's earnings, with the lowest sales estimate coming in at $272.80 million and the highest estimate coming in at $281.60 million. Welbilt posted sales of $328.90 million in the same quarter last year, which would indicate a negative year over year growth rate of 15.9%. The firm is expected to issue its next earnings results on Tuesday, May 4th.

On average, analysts expect that Welbilt will report full-year sales of $1.28 billion for the current financial year, with estimates ranging from $1.21 billion to $1.32 billion. For the next financial year, analysts anticipate that the business will post sales of $1.39 billion, with estimates ranging from $1.31 billion to $1.47 billion. Zacks Investment Research's sales calculations are an average based on a survey of research analysts that that provide coverage for Welbilt.

Welbilt (NYSE:WBT) last posted its quarterly earnings results on Thursday, February 25th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.12. The business had revenue of $320.00 million during the quarter, compared to analyst estimates of $289.56 million. Welbilt had a net margin of 0.45% and a return on equity of 21.76%. The company's revenue was down 16.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share.

WBT has been the subject of a number of research reports. Barclays increased their price target on shares of Welbilt from $15.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, January 15th. KeyCorp increased their price target on shares of Welbilt from $11.00 to $18.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 5th. They noted that the move was a valuation call. Finally, Robert W. Baird increased their price target on shares of Welbilt from $17.00 to $18.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus target price of $14.40.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC bought a new position in shares of Welbilt during the third quarter valued at approximately $244,000. Envestnet Asset Management Inc. grew its holdings in shares of Welbilt by 68.4% during the third quarter. Envestnet Asset Management Inc. now owns 85,241 shares of the industrial products company's stock valued at $525,000 after buying an additional 34,613 shares during the last quarter. Sarasin & Partners LLP grew its holdings in shares of Welbilt by 25.5% during the fourth quarter. Sarasin & Partners LLP now owns 2,693,489 shares of the industrial products company's stock valued at $35,554,000 after buying an additional 546,429 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Welbilt by 3,244.2% during the third quarter. Whittier Trust Co. now owns 6,956 shares of the industrial products company's stock valued at $43,000 after buying an additional 6,748 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Welbilt by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 4,773,408 shares of the industrial products company's stock valued at $28,403,000 after buying an additional 308,710 shares during the last quarter. 83.26% of the stock is owned by institutional investors and hedge funds.

WBT stock opened at $15.98 on Friday. Welbilt has a 1 year low of $3.17 and a 1 year high of $16.93. The company has a market cap of $2.26 billion, a P/E ratio of 399.50 and a beta of 1.99. The firm has a 50-day moving average of $14.38 and a 200 day moving average of $10.00. The company has a debt-to-equity ratio of 6.95, a current ratio of 2.12 and a quick ratio of 1.32.

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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7 Cryptocurrencies That Are Leading The Market Higher

An Influx Of Capital Is Driving Cryptocurrency Higher

There is an influx of money to the cryptocurrency market that is driving the entire complex higher. Not only is institutional interest peaking but recognition and use are on the rise as well. With Bitcoin setting new all-time highs 100% above the 2017 highs the number of new Bitcoin millionaires is on the rise too.

But Bitcoin is not the only cryptocurrency on the market today by far. The number of cryptocurrencies on the market has been growing steadily with more than 4,000 listed on Coinmarketcap alone. But that doesn’t mean they are all worth your time. Many if not most will not stand the test of time.

One way to judge the market’s interest in a cryptocurrency is its market performance gains. A cryptocurrency that is gaining in value is certainly one that you may want to own. The better method of judging the market’s interest in a cryptocurrency is the market cap. The cryptocurrency market is worth upwards of $1 trillion and growing, and most of that value is centered in the top seven. Together, the bottom 3,993 odd cryptocurrencies only account for 12% of the market and have yet to prove any lasting value.

View the "7 Cryptocurrencies That Are Leading The Market Higher".

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