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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