Analysts Anticipate Welbilt, Inc (NYSE:WBT) Will Announce Earnings of $0.25 Per Share

Brokerages forecast that Welbilt, Inc (NYSE:WBT) will post $0.25 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Welbilt’s earnings, with estimates ranging from $0.24 to $0.26. Welbilt also reported earnings per share of $0.25 during the same quarter last year. The company is scheduled to report its next quarterly earnings results on Monday, November 4th.

On average, analysts expect that Welbilt will report full year earnings of $0.73 per share for the current year, with EPS estimates ranging from $0.71 to $0.75. For the next fiscal year, analysts forecast that the company will post earnings of $0.96 per share, with EPS estimates ranging from $0.93 to $1.00. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Welbilt.

Welbilt (NYSE:WBT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. Welbilt had a return on equity of 52.45% and a net margin of 4.23%. The business had revenue of $426.30 million for the quarter, compared to the consensus estimate of $427.07 million. During the same quarter last year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis.

Several research firms have recently commented on WBT. Citigroup upgraded Welbilt from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $17.00 to $19.00 in a report on Wednesday, July 10th. ValuEngine upgraded Welbilt from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Welbilt presently has a consensus rating of “Buy” and an average target price of $19.67.

Shares of WBT traded down $0.06 during trading hours on Friday, hitting $16.94. The company had a trading volume of 1,292,100 shares, compared to its average volume of 1,285,767. The firm has a market cap of $2.38 billion, a P/E ratio of 21.72 and a beta of 1.66. The stock’s 50 day moving average price is $16.05 and its 200 day moving average price is $16.21. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 6.81. Welbilt has a 52-week low of $10.66 and a 52-week high of $21.62.

In related news, CEO William Johnson acquired 13,496 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $14.82 per share, for a total transaction of $200,010.72. Following the completion of the acquisition, the chief executive officer now owns 78,502 shares in the company, valued at $1,163,399.64. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of WBT. Strs Ohio bought a new stake in shares of Welbilt in the second quarter worth about $40,000. Huntington National Bank grew its stake in shares of Welbilt by 39.8% in the second quarter. Huntington National Bank now owns 4,571 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 1,301 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Welbilt in the second quarter worth about $129,000. CWM Advisors LLC bought a new stake in shares of Welbilt in the second quarter worth about $176,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Welbilt in the second quarter worth about $211,000.

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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