Welbilt, Inc (NYSE:WBT) Expected to Post Quarterly Sales of $333.60 Million

Last updated on Saturday, July 24, 2021 | 2021 MarketBeat

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.

Featured Article: Golden Cross

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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Welbilt right now?

Before you consider Welbilt, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Welbilt wasn't on the list.

While Welbilt currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.