Welbilt (NYSE:WBT) Issues FY20 Earnings Guidance

Welbilt (NYSE:WBT) updated its FY20 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.68-0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.83. The company issued revenue guidance of (2%) to 1% to $1.56-1.61 billion, compared to the consensus revenue estimate of $1.64 billion.Welbilt also updated its FY 2020
Pre-Market guidance to 0.68-0.75 EPS.

Several research analysts have issued reports on WBT shares. Zacks Investment Research upgraded shares of Welbilt from a strong sell rating to a hold rating in a research report on Tuesday, February 18th. Buckingham Research cut their price objective on Welbilt from $16.00 to $14.00 and set a neutral rating for the company in a research report on Wednesday. Finally, ValuEngine raised Welbilt from a sell rating to a hold rating in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Welbilt currently has an average rating of Hold and an average target price of $18.00.

Shares of NYSE:WBT remained flat at $$13.25 during midday trading on Wednesday. The company had a trading volume of 1,570,965 shares, compared to its average volume of 1,089,184. The company has a fifty day simple moving average of $14.78 and a two-hundred day simple moving average of $16.21. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 30.81 and a beta of 1.57. Welbilt has a fifty-two week low of $12.67 and a fifty-two week high of $19.81. The company has a debt-to-equity ratio of 6.30, a quick ratio of 1.10 and a current ratio of 1.71.

Welbilt (NYSE:WBT) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Welbilt had a return on equity of 46.20% and a net margin of 3.82%. The firm had revenue of $381.80 million for the quarter, compared to the consensus estimate of $400.51 million. During the same quarter in the previous year, the company earned $0.18 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Welbilt will post 0.66 earnings per share for the current fiscal year.

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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