Wall Street brokerages expect Welbilt, Inc (NYSE:WBT) to post $424.48 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Welbilt’s earnings. The highest sales estimate is $429.00 million and the lowest is $418.70 million. Welbilt posted sales of $420.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.9%. The firm is expected to report its next earnings results on Thursday, August 8th.
On average, analysts expect that Welbilt will report full year sales of $1.66 billion for the current financial year, with estimates ranging from $1.64 billion to $1.67 billion. For the next financial year, analysts anticipate that the business will post sales of $1.72 billion, with estimates ranging from $1.70 billion to $1.74 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Welbilt.
Welbilt (NYSE:WBT) last released its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The company had revenue of $375.30 million during the quarter, compared to the consensus estimate of $373.44 million. Welbilt had a net margin of 3.75% and a return on equity of 57.14%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share.
Welbilt stock traded up $0.61 during trading hours on Wednesday, hitting $16.79. The company had a trading volume of 1,401,400 shares, compared to its average volume of 1,282,873. The stock has a market cap of $2.29 billion, a P/E ratio of 21.53 and a beta of 1.78. The company has a quick ratio of 1.08, a current ratio of 1.74 and a debt-to-equity ratio of 8.18. Welbilt has a one year low of $10.66 and a one year high of $23.85.
In related news, COO Josef Matosevic sold 10,301 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $16.06, for a total transaction of $165,434.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Richard N. Caron sold 13,000 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $16.12, for a total transaction of $209,560.00. Following the sale, the executive vice president now owns 53,525 shares in the company, valued at approximately $862,823. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,760 shares of company stock worth $478,775. Company insiders own 0.37% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Coastal Investment Advisors Inc. bought a new position in Welbilt in the 1st quarter valued at approximately $105,000. SEI Investments Co lifted its stake in Welbilt by 24.3% in the 1st quarter. SEI Investments Co now owns 13,269 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 2,594 shares during the last quarter. Wellington Management Group LLP lifted its stake in Welbilt by 2.8% in the 1st quarter. Wellington Management Group LLP now owns 909,088 shares of the industrial products company’s stock valued at $14,891,000 after purchasing an additional 25,085 shares during the last quarter. Geode Capital Management LLC lifted its stake in Welbilt by 4.8% in the 1st quarter. Geode Capital Management LLC now owns 1,253,752 shares of the industrial products company’s stock valued at $20,536,000 after purchasing an additional 57,376 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Welbilt by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 779,058 shares of the industrial products company’s stock valued at $12,761,000 after purchasing an additional 2,849 shares during the last quarter. Institutional investors and hedge funds own 95.42% 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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