$424.10 Million in Sales Expected for Welbilt, Inc (NYSE:WBT) This Quarter

Wall Street analysts expect Welbilt, Inc (NYSE:WBT) to report sales of $424.10 million for the current quarter, Zacks reports. Four analysts have made estimates for Welbilt’s earnings. The lowest sales estimate is $418.70 million and the highest is $429.00 million. Welbilt posted sales of $420.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, August 6th.

According to Zacks, analysts expect that Welbilt will report full-year sales of $1.66 billion for the current fiscal year, with estimates ranging from $1.65 billion to $1.67 billion. For the next year, analysts expect that the business will report sales of $1.72 billion, with estimates ranging from $1.70 billion to $1.75 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Welbilt.

Welbilt (NYSE:WBT) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). Welbilt had a net margin of 3.75% and a return on equity of 57.14%. The company had revenue of $375.30 million during the quarter, compared to analyst estimates of $373.44 million. During the same period in the prior year, the firm posted $0.15 EPS. Welbilt’s revenue was up 7.1% compared to the same quarter last year.

Several equities analysts recently weighed in on the stock. ValuEngine cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Zymeworks from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Saturday, April 27th. Finally, Citigroup raised shares of Welbilt from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $17.00 to $19.00 in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Welbilt currently has an average rating of “Buy” and a consensus price target of $20.57.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sarasin & Partners LLP increased its position in Welbilt by 4.5% during the 2nd quarter. Sarasin & Partners LLP now owns 469,980 shares of the industrial products company’s stock worth $7,849,000 after purchasing an additional 20,387 shares in the last quarter. CWM Advisors LLC acquired a new position in shares of Welbilt in the 2nd quarter valued at approximately $176,000. Nisa Investment Advisors LLC raised its position in shares of Welbilt by 46.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,200 shares of the industrial products company’s stock valued at $304,000 after purchasing an additional 5,800 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Welbilt by 10.8% in the 2nd quarter. Diversified Trust Co now owns 26,850 shares of the industrial products company’s stock valued at $448,000 after acquiring an additional 2,625 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Welbilt by 1.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,619,942 shares of the industrial products company’s stock valued at $43,753,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 99.84% of the company’s stock.

Shares of WBT traded up $0.33 during trading hours on Tuesday, reaching $16.85. The stock had a trading volume of 667,807 shares, compared to its average volume of 1,809,909. Welbilt has a 12 month low of $10.66 and a 12 month high of $23.35. The company has a market cap of $2.35 billion, a PE ratio of 21.60 and a beta of 1.66. The company has a debt-to-equity ratio of 8.18, a current ratio of 1.74 and a quick ratio of 1.08. The stock has a 50-day moving average price of $16.08.

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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