Zacks: Brokerages Expect Welbilt, Inc (NYSE:WBT) Will Announce Earnings of $0.16 Per Share

Equities research analysts forecast that Welbilt, Inc (NYSE:WBT) will post $0.16 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Welbilt’s earnings. The lowest EPS estimate is $0.13 and the highest is $0.19. Welbilt posted earnings of $0.07 per share in the same quarter last year, which indicates a positive year over year growth rate of 128.6%. The firm is scheduled to report its next quarterly earnings report on Tuesday, November 2nd.

On average, analysts expect that Welbilt will report full-year earnings of $0.63 per share for the current financial year, with EPS estimates ranging from $0.56 to $0.70. For the next year, analysts anticipate that the company will report earnings of $0.85 per share, with EPS estimates ranging from $0.79 to $0.92. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Welbilt.

Welbilt (NYSE:WBT) last posted its quarterly earnings data on Tuesday, August 3rd. The industrial products company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.09. The firm had revenue of $395.60 million during the quarter, compared to analysts’ expectations of $352.70 million. Welbilt had a net margin of 4.26% and a return on equity of 27.29%. The firm’s quarterly revenue was up 92.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) EPS.

Several equities analysts have weighed in on WBT shares. William Blair downgraded Welbilt from an “outperform” rating to a “market perform” rating and set a $24.00 target price for the company. in a research report on Tuesday, July 13th. Seaport Res Ptn downgraded shares of Welbilt from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 13th. Seaport Global Securities cut shares of Welbilt from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 13th. Robert W. Baird downgraded shares of Welbilt from an “outperform” rating to a “neutral” rating and set a $26.00 price target for the company. in a research note on Tuesday, June 22nd. Finally, CL King cut Welbilt from a “buy” rating to a “neutral” rating in a research note on Friday, July 2nd. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.38.

In other Welbilt news, EVP Richard N. Caron sold 15,540 shares of the firm’s stock in a transaction on Friday, August 13th. The stock was sold at an average price of $23.24, for a total value of $361,149.60. Following the sale, the executive vice president now directly owns 42,730 shares in the company, valued at $993,045.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.47% of the company’s stock.

Several large investors have recently modified their holdings of the company. Liberty Wealth Management LLC boosted its holdings in shares of Welbilt by 2,214.7% in the 2nd quarter. Liberty Wealth Management LLC now owns 1,736 shares of the industrial products company’s stock valued at $75,000 after buying an additional 1,661 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Welbilt by 4,865.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,986 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,946 shares during the last quarter. FORA Capital LLC acquired a new position in Welbilt in the second quarter valued at $57,000. Geneos Wealth Management Inc. acquired a new position in Welbilt in the first quarter valued at $109,000. Finally, The PNC Financial Services Group Inc. grew its holdings in shares of Welbilt by 36.1% during the first quarter. The PNC Financial Services Group Inc. now owns 6,600 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 1,750 shares during the last quarter. Institutional investors and hedge funds own 90.42% of the company’s stock.

Shares of NYSE WBT traded down $0.02 during trading on Friday, reaching $23.47. The stock had a trading volume of 11,686 shares, compared to its average volume of 2,400,609. The company has a debt-to-equity ratio of 4.46, a quick ratio of 1.25 and a current ratio of 1.94. The company has a market cap of $3.34 billion, a P/E ratio of 58.73 and a beta of 2.45. Welbilt has a fifty-two week low of $5.85 and a fifty-two week high of $25.19. The business’s 50-day moving average price is $23.44 and its 200-day moving average price is $21.29.

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.

Further Reading: Determine Your Level of Risk Tolerance

Get a free copy of the Zacks research report on Welbilt (WBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Welbilt (NYSE:WBT)

Receive News & Ratings for Welbilt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Welbilt and related companies with MarketBeat.com's FREE daily email newsletter.