Welbilt (NYSE:WBT) updated its FY 2018 earnings guidance on Monday. The company provided earnings per share guidance of $0.73-0.81 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.88.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Welbilt from a sell rating to a hold rating in a report on Thursday, October 18th. Barclays set a $25.00 price objective on shares of Welbilt and gave the company a buy rating in a report on Monday, August 20th. Finally, Citigroup decreased their price objective on shares of Welbilt from $24.00 to $23.00 and set a neutral rating for the company in a report on Wednesday, August 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $24.40.
Welbilt stock opened at $19.32 on Monday. The company has a market capitalization of $2.71 billion, a PE ratio of 25.09 and a beta of 1.23. Welbilt has a twelve month low of $18.31 and a twelve month high of $23.85. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 10.00.
Welbilt (NYSE:WBT) last released its quarterly earnings results on Thursday, August 9th. The industrial products company reported $0.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The company had revenue of $420.70 million during the quarter, compared to analysts’ expectations of $401.45 million. Welbilt had a net margin of 8.14% and a return on equity of 110.60%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 earnings per share. As a group, equities research analysts predict that Welbilt will post 0.87 EPS for the current fiscal year.
In other news, EVP Richard N. Caron sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $21.88, for a total value of $196,920.00. Following the completion of the transaction, the executive vice president now owns 100 shares in the company, valued at $2,188. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.
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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