Analysts Expect Welbilt, Inc (WBT) to Announce $0.27 Earnings Per Share

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Brokerages expect Welbilt, Inc (NYSE:WBT) to announce earnings of $0.27 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Welbilt’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.28. Welbilt reported earnings of $0.23 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.4%. The company is scheduled to announce its next quarterly earnings results on Monday, November 5th.

According to Zacks, analysts expect that Welbilt will report full year earnings of $0.87 per share for the current year, with EPS estimates ranging from $0.85 to $0.90. For the next fiscal year, analysts expect that the firm will post earnings of $1.07 per share, with EPS estimates ranging from $1.00 to $1.11. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Welbilt.

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 consensus estimate of $0.20. The business had revenue of $420.70 million during the quarter, compared to analysts’ expectations of $401.45 million. Welbilt had a return on equity of 110.60% and a net margin of 8.14%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS.

Several equities analysts have weighed in on WBT shares. Zacks Investment Research upgraded Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, July 26th. Citigroup cut their price target on Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, August 15th. Barclays set a $25.00 target price on Welbilt and gave the stock a “buy” rating in a report on Monday, August 20th. Finally, CL King began coverage on Welbilt in a report on Thursday, June 28th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $24.40.

NYSE WBT opened at $18.55 on Wednesday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 24.09 and a beta of 1.12. The company has a debt-to-equity ratio of 10.00, a current ratio of 1.41 and a quick ratio of 0.80. Welbilt has a 1-year low of $18.31 and a 1-year high of $23.85.

In other news, EVP Richard N. Caron sold 9,000 shares of Welbilt stock in a transaction that occurred on Thursday, September 6th. The stock was 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 approximately $2,188. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new position in shares of Welbilt in the 2nd quarter worth approximately $200,000. Fort L.P. purchased a new position in shares of Welbilt in the 2nd quarter worth approximately $126,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Welbilt in the 2nd quarter worth approximately $210,000. Thompson Investment Management Inc. purchased a new position in shares of Welbilt in the 2nd quarter worth approximately $217,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Welbilt by 6,330.8% in the 1st quarter. Quantbot Technologies LP now owns 10,032 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 9,876 shares during the period. Hedge funds and other institutional investors own 89.56% of the company’s stock.

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.

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Earnings History and Estimates for Welbilt (NYSE:WBT)

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