Brokerages forecast that Welbilt, Inc (NYSE:WBT) will post sales of $333.60 million for the current quarter, Zacks reports. Five analysts have issued estimates for Welbilt's earnings, with estimates ranging from $324.20 million to $350.60 million. Welbilt reported sales of $206.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 61.9%. The business is scheduled to report its next quarterly earnings results on Tuesday, August 3rd.
According to Zacks, analysts expect that Welbilt will report full-year sales of $1.36 billion for the current year, with estimates ranging from $1.32 billion to $1.39 billion. For the next financial year, analysts expect that the company will report sales of $1.51 billion, with estimates ranging from $1.46 billion to $1.58 billion. Zacks' sales calculations are a mean average based on a survey of analysts that that provide coverage for Welbilt.
Welbilt (NYSE:WBT) last posted its earnings results on Thursday, May 6th. The industrial products company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.03 by $0.05. Welbilt had a net margin of 1.37% and a return on equity of 13.46%. The company had revenue of $316.80 million for the quarter, compared to analyst estimates of $287.77 million. During the same period last year, the business posted $0.01 earnings per share. The business's revenue for the quarter was down 3.7% compared to the same quarter last year.
Several equities research analysts have issued reports on WBT shares. Zacks Investment Research downgraded Welbilt from a "buy" rating to a "hold" rating in a report on Thursday, July 15th. Robert W. Baird downgraded shares of Welbilt from an "outperform" rating to a "neutral" rating and set a $26.00 target price on the stock. in a report on Tuesday, June 22nd. William Blair lowered shares of Welbilt from an "outperform" rating to a "market perform" rating and set a $24.00 price target on the stock. in a research note on Tuesday, July 13th. CL King lowered shares of Welbilt from a "buy" rating to a "neutral" rating in a report on Friday, July 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Welbilt from $17.00 to $25.00 and gave the company a "market perform" rating in a research report on Monday, May 10th. Ten analysts have rated the stock with a hold rating, The company has an average rating of "Hold" and an average target price of $23.25.
A number of large investors have recently modified their holdings of WBT. Alliancebernstein L.P. increased its position in shares of Welbilt by 217.1% during the 1st quarter. Alliancebernstein L.P. now owns 7,692,393 shares of the industrial products company's stock worth $125,001,000 after purchasing an additional 5,266,361 shares during the last quarter. Norges Bank bought a new position in shares of Welbilt in the fourth quarter valued at $18,848,000. Select Equity Group L.P. acquired a new position in Welbilt during the fourth quarter worth $16,927,000. BlackRock Inc. increased its holdings in Welbilt by 10.2% during the first quarter. BlackRock Inc. now owns 10,497,837 shares of the industrial products company's stock worth $170,589,000 after buying an additional 972,811 shares during the last quarter. Finally, SummerHaven Investment Management LLC bought a new stake in Welbilt during the fourth quarter worth $968,000. 90.67% of the stock is currently owned by hedge funds and other institutional investors.
WBT stock opened at $23.40 on Friday. Welbilt has a 1-year low of $5.78 and a 1-year high of $25.19. The company has a current ratio of 2.12, a quick ratio of 1.36 and a debt-to-equity ratio of 5.21. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 212.73 and a beta of 2.46. The business's 50-day simple moving average is $23.33.
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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