Wall Street analysts forecast that Welbilt, Inc (NYSE:WBT) will post earnings per share of $0.20 for the current quarter, Zacks reports. Four analysts have made estimates for Welbilt’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.19. Welbilt posted earnings of $0.18 per share during the same quarter last year, which suggests a positive year over year growth rate of 11.1%. The firm is scheduled to report its next earnings report on Tuesday, February 18th.
According to Zacks, analysts expect that Welbilt will report full year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.67 to $0.70. For the next fiscal year, analysts forecast that the firm will post earnings of $0.87 per share, with EPS estimates ranging from $0.83 to $0.92. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Welbilt.
Welbilt (NYSE:WBT) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). Welbilt had a return on equity of 46.20% and a net margin of 3.82%. The business had revenue of $410.50 million for the quarter, compared to the consensus estimate of $423.03 million. During the same period in the previous year, the business posted $0.25 earnings per share. Welbilt’s revenue was down .6% on a year-over-year basis.
WBT has been the subject of a number of recent research reports. Zacks Investment Research cut Welbilt from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Barclays reiterated a “buy” rating and set a $20.00 target price on shares of Welbilt in a research report on Wednesday, October 16th. Finally, BMO Capital Markets assumed coverage on shares of Welbilt in a report on Friday, October 18th. They set a “market perform” rating and a $19.00 price target for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.40.
Several institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC acquired a new stake in shares of Welbilt in the 2nd quarter valued at $135,031,000. Scopia Capital Management LP raised its holdings in Welbilt by 178.5% during the 2nd quarter. Scopia Capital Management LP now owns 5,764,889 shares of the industrial products company’s stock worth $96,274,000 after purchasing an additional 3,694,892 shares during the last quarter. BlackRock Inc. lifted its position in Welbilt by 56.8% during the 2nd quarter. BlackRock Inc. now owns 8,707,096 shares of the industrial products company’s stock valued at $145,409,000 after purchasing an additional 3,152,913 shares during the period. JPMorgan Chase & Co. grew its position in shares of Welbilt by 207.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,541,701 shares of the industrial products company’s stock worth $58,083,000 after buying an additional 2,391,225 shares during the period. Finally, Atlanta Capital Management Co. L L C grew its position in shares of Welbilt by 91.0% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,323,504 shares of the industrial products company’s stock worth $22,103,000 after buying an additional 630,725 shares during the period. 99.90% of the stock is owned by institutional investors and hedge funds.
NYSE:WBT traded down $0.25 during mid-day trading on Thursday, hitting $16.41. The company’s stock had a trading volume of 24,672 shares, compared to its average volume of 1,245,613. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 6.30. The stock has a fifty day moving average of $17.82 and a 200-day moving average of $16.60. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 20.92 and a beta of 1.61. Welbilt has a fifty-two week low of $10.66 and a fifty-two week high of $19.81.
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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