Welbilt, Inc (NYSE:WBT) – Equities research analysts at Seaport Global Securities lowered their Q2 2019 EPS estimates for Welbilt in a research note issued to investors on Tuesday, November 6th. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $0.23 for the quarter, down from their previous forecast of $0.29. Seaport Global Securities also issued estimates for Welbilt’s FY2019 earnings at $0.84 EPS and FY2020 earnings at $0.97 EPS.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Welbilt from a “hold” rating to a “strong sell” rating in a research report on Thursday. Citigroup lowered their price objective on shares of Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, August 15th. Wedbush lowered their price objective on shares of Welbilt from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays set a $25.00 price objective on shares of Welbilt and gave the company a “buy” rating in a research report on Monday, August 20th. Finally, Robert W. Baird set a $19.00 price target on shares of Welbilt and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Welbilt currently has an average rating of “Buy” and a consensus price target of $21.75.
Welbilt (NYSE:WBT) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). Welbilt had a net margin of 7.56% and a return on equity of 95.12%. The firm had revenue of $412.90 million for the quarter, compared to analyst estimates of $421.89 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis.
In other news, EVP Richard N. Caron sold 9,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $21.88, for a total transaction of $196,920.00. Following the completion of the transaction, the executive vice president now directly owns 100 shares in the company, valued at $2,188. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC bought a new stake in shares of Welbilt in the second quarter worth $200,000. Fort L.P. bought a new stake in shares of Welbilt in the second quarter worth $126,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Welbilt in the second quarter worth $210,000. Colony Group LLC bought a new stake in shares of Welbilt in the second quarter worth $229,000. Finally, Quantum Capital Management bought a new stake in shares of Welbilt in the second quarter worth $256,000. Institutional investors own 90.87% 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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