Zacks: Brokerages Anticipate Welbilt, Inc (NYSE:WBT) Will Post Quarterly Sales of $430.43 Million

Analysts forecast that Welbilt, Inc (NYSE:WBT) will report $430.43 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Welbilt’s earnings. The highest sales estimate is $436.40 million and the lowest is $425.30 million. Welbilt posted sales of $412.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.2%. The firm is scheduled to issue its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Welbilt will report full-year sales of $1.65 billion for the current fiscal year, with estimates ranging from $1.64 billion to $1.67 billion. For the next financial year, analysts expect that the company will post sales of $1.71 billion, with estimates ranging from $1.70 billion to $1.73 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Welbilt.

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

WBT has been the subject of several research analyst reports. Citigroup raised Welbilt from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $19.00 in a research note on Wednesday, July 10th. ValuEngine raised Welbilt from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised Welbilt from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Welbilt currently has an average rating of “Buy” and a consensus target price of $19.67.

NYSE WBT traded up $0.18 during trading on Thursday, hitting $15.45. 1,227,800 shares of the company’s stock were exchanged, compared to its average volume of 1,315,464. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 6.81. The company has a market cap of $2.15 billion, a PE ratio of 19.81 and a beta of 1.66. Welbilt has a fifty-two week low of $10.66 and a fifty-two week high of $22.41. The stock’s 50 day moving average price is $16.29 and its two-hundred day moving average price is $16.07.

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Welbilt by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,196,376 shares of the industrial products company’s stock worth $13,291,000 after acquiring an additional 62,101 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Welbilt by 204.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 41,589 shares of the industrial products company’s stock worth $462,000 after acquiring an additional 27,941 shares during the period. Legal & General Group Plc grew its stake in Welbilt by 4.9% in the 4th quarter. Legal & General Group Plc now owns 67,368 shares of the industrial products company’s stock worth $749,000 after acquiring an additional 3,162 shares during the period. Millennium Management LLC grew its stake in Welbilt by 22.8% in the 4th quarter. Millennium Management LLC now owns 62,006 shares of the industrial products company’s stock worth $689,000 after acquiring an additional 11,529 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in Welbilt by 202.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 102,281 shares of the industrial products company’s stock worth $1,136,000 after acquiring an additional 68,498 shares during the period. 98.85% of the stock is owned by institutional investors.

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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