KeyCorp Comments on Welbilt, Inc’s Q2 2019 Earnings (NYSE:WBT)

Welbilt, Inc (NYSE:WBT) – Analysts at KeyCorp lowered their Q2 2019 EPS estimates for Welbilt in a note issued to investors on Thursday, June 13th. KeyCorp analyst J. Hammond now anticipates that the industrial products company will post earnings per share of $0.18 for the quarter, down from their prior estimate of $0.19.

A number of other brokerages have also commented on WBT. ValuEngine upgraded Welbilt from a “sell” rating to a “hold” rating in a report on Saturday, March 30th. Barclays reiterated a “buy” rating and set a $19.00 price target on shares of Welbilt in a report on Wednesday, February 20th. Robert W. Baird set a $18.00 price target on Welbilt and gave the stock a “buy” rating in a report on Wednesday, February 20th. Finally, Zacks Investment Research upgraded Welbilt from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $20.14.

Shares of WBT stock opened at $16.00 on Monday. Welbilt has a 12 month low of $10.66 and a 12 month high of $23.85. The company has a market cap of $2.26 billion, a PE ratio of 20.51 and a beta of 1.70. The company has a debt-to-equity ratio of 8.18, a current ratio of 1.74 and a quick ratio of 1.08.

Welbilt (NYSE:WBT) last posted its 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). Welbilt had a return on equity of 57.14% and a net margin of 3.75%. The company had revenue of $375.30 million during the quarter, compared to analyst estimates of $373.44 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year.

Several hedge funds have recently modified their holdings of the company. Hudson Bay Capital Management LP raised its stake in shares of Welbilt by 110.4% in the fourth quarter. Hudson Bay Capital Management LP now owns 134,732 shares of the industrial products company’s stock valued at $1,497,000 after purchasing an additional 70,693 shares in the last quarter. Penn Capital Management Co. Inc. raised its stake in shares of Welbilt by 7.5% in the first quarter. Penn Capital Management Co. Inc. now owns 481,805 shares of the industrial products company’s stock valued at $7,892,000 after purchasing an additional 33,647 shares in the last quarter. Triangle Securities Wealth Management acquired a new position in shares of Welbilt in the first quarter valued at $895,000. Standard Life Aberdeen plc raised its stake in shares of Welbilt by 0.7% in the fourth quarter. Standard Life Aberdeen plc now owns 2,412,796 shares of the industrial products company’s stock valued at $27,506,000 after purchasing an additional 17,580 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Welbilt by 23.9% in the fourth quarter. New York State Common Retirement Fund now owns 1,233,445 shares of the industrial products company’s stock valued at $13,704,000 after purchasing an additional 238,081 shares in the last quarter. Institutional investors own 99.99% 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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Earnings History and Estimates for Welbilt (NYSE:WBT)

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