Welbilt, Inc (NYSE:WBT) Expected to Post Earnings of $0.09 Per Share

Wall Street analysts expect Welbilt, Inc (NYSE:WBT) to announce earnings of $0.09 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Welbilt’s earnings, with the highest EPS estimate coming in at $0.11 and the lowest estimate coming in at $0.06. Welbilt reported earnings per share of ($0.07) during the same quarter last year, which suggests a positive year over year growth rate of 228.6%. The company is scheduled to report its next earnings report on Tuesday, August 3rd.

On average, analysts expect that Welbilt will report full year earnings of $0.43 per share for the current financial year, with EPS estimates ranging from $0.37 to $0.45. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.73 per share, with EPS estimates ranging from $0.66 to $0.80. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Welbilt.

Welbilt (NYSE:WBT) last posted its quarterly earnings data on Thursday, May 6th. The industrial products company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The business had revenue of $316.80 million during the quarter, compared to the consensus estimate of $287.77 million. Welbilt had a net margin of 0.45% and a return on equity of 21.76%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share.

Several research firms recently weighed in on WBT. Robert W. Baird upped their price objective on shares of Welbilt from $17.00 to $18.00 in a report on Friday, February 26th. Zacks Investment Research upgraded shares of Welbilt from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, May 4th. Barclays boosted their price target on shares of Welbilt from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, January 15th. BMO Capital Markets boosted their price target on shares of Welbilt from $17.00 to $25.00 and gave the stock a “market perform” rating in a research report on Monday. Finally, KeyCorp reiterated a “sector weight” rating on shares of Welbilt in a research report on Wednesday, April 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Welbilt has an average rating of “Buy” and a consensus price target of $19.00.

WBT stock traded down $1.45 during trading on Wednesday, hitting $20.23. The company had a trading volume of 210,407 shares, compared to its average volume of 2,706,125. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 514.50 and a beta of 1.99. The business has a 50 day moving average of $18.41 and a 200 day moving average of $13.98. Welbilt has a fifty-two week low of $4.15 and a fifty-two week high of $22.98. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 6.95.

A number of hedge funds and other institutional investors have recently bought and sold shares of WBT. Alliancebernstein L.P. raised its holdings in Welbilt by 217.1% during the 1st quarter. Alliancebernstein L.P. now owns 7,692,393 shares of the industrial products company’s stock worth $125,001,000 after buying an additional 5,266,361 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Welbilt during the 4th quarter worth about $58,868,000. Norges Bank acquired a new stake in Welbilt during the 4th quarter worth about $18,848,000. Select Equity Group L.P. acquired a new stake in Welbilt during the 4th quarter worth about $16,927,000. Finally, BlackRock Inc. increased its holdings in shares of Welbilt by 10.2% in the 1st quarter. BlackRock Inc. now owns 10,497,837 shares of the industrial products company’s stock valued at $170,589,000 after purchasing an additional 972,811 shares during the period. Hedge funds and other institutional investors own 83.26% of the company’s stock.

About Welbilt

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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