Brokerages Anticipate Welbilt, Inc (NYSE:WBT) to Post $0.26 Earnings Per Share

Brokerages predict that Welbilt, Inc (NYSE:WBT) will announce earnings per share (EPS) of $0.26 for the current quarter, Zacks reports. Four analysts have made estimates for Welbilt’s earnings, with estimates ranging from $0.24 to $0.26. Welbilt reported earnings per share of $0.25 in the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The firm is expected to announce its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Welbilt will report full year earnings of $0.73 per share for the current fiscal year, with EPS estimates ranging from $0.71 to $0.75. For the next year, analysts anticipate that the business will post earnings of $0.97 per share, with EPS estimates ranging from $0.94 to $1.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Welbilt.

Welbilt (NYSE:WBT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. Welbilt had a return on equity of 52.45% and a net margin of 4.23%. The firm had revenue of $426.30 million for the quarter, compared to the consensus estimate of $427.07 million. During the same period in the prior year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis.

Several equities research analysts have recently weighed in on the company. Citigroup upgraded Welbilt from a “neutral” rating to a “buy” rating and increased their price target for the stock from $17.00 to $19.00 in a report on Wednesday, July 10th. ValuEngine upgraded Welbilt from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Welbilt from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.67.

Shares of NYSE WBT traded down $0.20 during midday trading on Tuesday, hitting $16.15. The company’s stock had a trading volume of 785,321 shares, compared to its average volume of 1,237,045. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 6.81. The business’s 50 day moving average price is $16.30. Welbilt has a 12-month low of $10.66 and a 12-month high of $22.41. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 20.71 and a beta of 1.66.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC increased its holdings in Welbilt by 2.9% during the 1st quarter. Champlain Investment Partners LLC now owns 6,345,165 shares of the industrial products company’s stock worth $103,934,000 after purchasing an additional 177,290 shares during the period. FMR LLC increased its holdings in Welbilt by 279.6% during the 1st quarter. FMR LLC now owns 3,573,391 shares of the industrial products company’s stock worth $58,533,000 after purchasing an additional 2,631,930 shares during the period. JPMorgan Chase & Co. increased its holdings in Welbilt by 207.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,541,701 shares of the industrial products company’s stock worth $58,083,000 after purchasing an additional 2,391,225 shares during the period. Dimensional Fund Advisors LP increased its holdings in Welbilt by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,425,057 shares of the industrial products company’s stock worth $38,053,000 after purchasing an additional 50,038 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Welbilt by 1.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,619,942 shares of the industrial products company’s stock worth $43,753,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 99.92% 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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