Welbilt (WBT) Issues FY18 Earnings Guidance

Welbilt (NYSE:WBT) issued an update on its FY18 earnings guidance on Monday morning. The company provided EPS guidance of $0.73-0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.88. The company issued revenue guidance of $1.56-1.59 billion (+8-10%), compared to the consensus revenue estimate of $1.60 billion.Welbilt also updated its FY 2018 guidance to $0.73-0.81 EPS.

Shares of NYSE WBT opened at $19.32 on Monday. Welbilt has a 52-week low of $18.31 and a 52-week high of $23.85. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 25.09 and a beta of 1.23. 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 (NYSE:WBT) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Welbilt had a net margin of 8.14% and a return on equity of 110.60%. The firm had revenue of $412.90 million for the quarter, compared to analyst estimates of $421.89 million. During the same quarter in the previous year, the company earned $0.22 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Welbilt will post 0.87 EPS for the current fiscal year.

Several analysts have issued reports on WBT shares. Zacks Investment Research upgraded Welbilt from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research note on Thursday, July 26th. Citigroup cut their price objective on Welbilt from $24.00 to $23.00 and set a neutral rating on the stock in a research note on Wednesday, August 15th. Finally, Barclays set a $25.00 price objective on Welbilt and gave the company a buy rating in a research note on Monday, August 20th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $24.40.

In other news, EVP Richard N. Caron sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $21.88, for a total transaction of $196,920.00. Following the sale, the executive vice president now directly owns 100 shares in the company, valued at approximately $2,188. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

About Welbilt

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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Earnings History and Estimates for Welbilt (NYSE:WBT)

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