Brokerages Expect Welbilt Inc (WBT) Will Announce Quarterly Sales of $383.58 Million

Equities research analysts expect Welbilt Inc (NYSE:WBT) to report $383.58 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Welbilt’s earnings, with the lowest sales estimate coming in at $378.60 million and the highest estimate coming in at $389.80 million. Welbilt posted sales of $378.70 million during the same quarter last year, which suggests a positive year over year growth rate of 1.3%. The business is expected to report its next earnings report before the market opens on Monday, February 26th.

On average, analysts expect that Welbilt will report full-year sales of $383.58 million for the current fiscal year, with estimates ranging from $1.46 billion to $1.47 billion. For the next year, analysts forecast that the firm will report sales of $1.51 billion per share, with estimates ranging from $1.50 billion to $1.54 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Welbilt.

Welbilt (NYSE:WBT) last released its earnings results on Monday, November 6th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The firm had revenue of $380.40 million during the quarter, compared to the consensus estimate of $387.05 million. Welbilt had a negative return on equity of 2,645.52% and a net margin of 6.14%. The business’s revenue was down .9% on a year-over-year basis.

WBT has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of Welbilt in a report on Tuesday, December 12th. They set an “overweight” rating and a $25.00 price objective for the company. Citigroup lifted their price objective on shares of Welbilt from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Zacks Investment Research lowered shares of Welbilt from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and set a $25.00 price objective on shares of Welbilt in a report on Thursday, October 12th. Finally, Longbow Research initiated coverage on shares of Welbilt in a report on Tuesday, October 10th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.83.

Welbilt (WBT) traded down $0.41 during trading on Friday, hitting $22.25. 340,321 shares of the stock traded hands, compared to its average volume of 615,534. The company has a market cap of $3,182.15, a price-to-earnings ratio of 35.02, a PEG ratio of 2.41 and a beta of 2.03. The company has a quick ratio of 0.79, a current ratio of 1.35 and a debt-to-equity ratio of 29.38. Welbilt has a 12-month low of $17.55 and a 12-month high of $23.77.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors increased its position in Welbilt by 91.3% during the 2nd quarter. Capital Research Global Investors now owns 3,000,000 shares of the industrial products company’s stock valued at $56,550,000 after purchasing an additional 1,431,642 shares during the period. Schwab Charles Investment Management Inc. increased its position in Welbilt by 18.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 627,205 shares of the industrial products company’s stock valued at $14,746,000 after purchasing an additional 97,429 shares during the period. Three Peaks Capital Management LLC increased its position in Welbilt by 35.0% during the 4th quarter. Three Peaks Capital Management LLC now owns 263,556 shares of the industrial products company’s stock valued at $6,196,000 after purchasing an additional 68,270 shares during the period. Frontier Capital Management Co. LLC increased its position in Welbilt by 31.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 166,221 shares of the industrial products company’s stock valued at $3,908,000 after purchasing an additional 40,166 shares during the period. Finally, Foundry Partners LLC purchased a new position in Welbilt during the 4th quarter valued at about $1,580,000. 91.23% of the stock is currently owned by institutional investors and hedge funds.

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About Welbilt

Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.

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Earnings History and Estimates for Welbilt (NYSE:WBT)

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