Welbilt (NYSE:WBT) Updates FY 2020 Pre-Market Earnings Guidance

Welbilt (NYSE:WBT) updated its FY 2020
Pre-Market 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 $0.81. The company issued revenue guidance of $1.562-1.61 billion, compared to the consensus revenue estimate of $1.64 billion.Welbilt also updated its FY20 guidance to $0.68-0.75 EPS.

A number of brokerages have recently issued reports on WBT. Buckingham Research dropped their target price on Welbilt from $16.00 to $14.00 and set a neutral rating on the stock in a research report on Wednesday. Zacks Investment Research raised Welbilt from a strong sell rating to a hold rating in a research report on Tuesday, February 18th. Finally, ValuEngine raised Welbilt from a sell rating to a hold rating in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $18.00.

Welbilt stock 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 debt-to-equity ratio of 6.30, a quick ratio of 1.10 and a current ratio of 1.71. The company has a market capitalization of $1.89 billion, a PE ratio of 30.81 and a beta of 1.57. Welbilt has a 1 year low of $12.67 and a 1 year high of $19.81. The business’s 50 day moving average is $14.82 and its two-hundred day moving average is $16.23.

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

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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