Zacks: Brokerages Anticipate Welbilt, Inc (NYSE:WBT) Will Post Quarterly Sales of $407.63 Million

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Equities analysts forecast that Welbilt, Inc (NYSE:WBT) will post $407.63 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Welbilt’s earnings, with estimates ranging from $404.10 million to $411.60 million. Welbilt posted sales of $406.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.4%. The business is scheduled to issue its next earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that Welbilt will report full-year sales of $1.62 billion for the current year. For the next year, analysts forecast that the company will report sales of $1.67 billion, with estimates ranging from $1.66 billion to $1.69 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Welbilt.

Welbilt (NYSE:WBT) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The firm had revenue of $410.50 million for the quarter, compared to analyst estimates of $423.03 million. Welbilt had a return on equity of 46.20% and a net margin of 3.82%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS.

A number of equities research analysts have weighed in on WBT shares. BMO Capital Markets began coverage on Welbilt in a report on Friday, October 18th. They issued a “market perform” rating and a $19.00 target price on the stock. Barclays reissued a “buy” rating and set a $20.00 price target on shares of Welbilt in a report on Wednesday, October 16th. Zacks Investment Research downgraded Welbilt from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. Finally, ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $18.40.

NYSE WBT traded down $0.25 on Friday, hitting $16.41. 24,672 shares of the company’s stock were exchanged, compared to its average volume of 1,245,613. The stock has a 50-day moving average of $17.82 and a 200-day moving average of $16.60. The company has a current ratio of 1.71, a quick ratio of 1.10 and a debt-to-equity ratio of 6.30. Welbilt has a 52 week low of $10.66 and a 52 week high of $19.81. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 20.92 and a beta of 1.61.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Welbilt by 4.2% during the second quarter. Vanguard Group Inc. now owns 11,927,004 shares of the industrial products company’s stock valued at $199,180,000 after acquiring an additional 484,737 shares during the last quarter. BlackRock Inc. lifted its stake in Welbilt by 56.8% in the second quarter. BlackRock Inc. now owns 8,707,096 shares of the industrial products company’s stock valued at $145,409,000 after buying an additional 3,152,913 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of Welbilt by 5.8% during the 2nd quarter. Impax Asset Management Group plc now owns 8,529,334 shares of the industrial products company’s stock worth $142,440,000 after buying an additional 464,398 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Welbilt during the 2nd quarter worth approximately $135,031,000. Finally, Scopia Capital Management LP grew its position in shares of Welbilt by 13.8% during the 3rd quarter. Scopia Capital Management LP now owns 6,559,589 shares of the industrial products company’s stock worth $110,595,000 after buying an additional 794,700 shares during the period. Institutional investors and hedge funds own 99.90% 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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