Welbilt, Inc (NYSE:WBT) Expected to Post Quarterly Sales of $406.48 Million

Wall Street brokerages predict that Welbilt, Inc (NYSE:WBT) will announce $406.48 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Welbilt’s earnings. The highest sales estimate is $411.60 million and the lowest is $404.10 million. Welbilt posted sales of $406.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.1%. The firm is scheduled to report its next earnings report on Tuesday, February 18th.

According to Zacks, analysts expect that Welbilt will report full-year sales of $1.62 billion for the current fiscal year. For the next year, analysts anticipate that the firm will report sales of $1.67 billion, with estimates ranging from $1.65 billion to $1.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Welbilt.

Welbilt (NYSE:WBT) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). Welbilt had a net margin of 3.82% and a return on equity of 46.20%. The company had revenue of $410.50 million during the quarter, compared to analysts’ expectations of $423.03 million. During the same quarter last year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year.

Several research analysts have weighed in on the company. BMO Capital Markets assumed coverage on Welbilt in a research note on Friday, October 18th. They issued a “market perform” rating and a $19.00 target price on the stock. Zacks Investment Research downgraded Welbilt from a “hold” rating to a “sell” rating in a research note on Saturday, November 9th. Barclays reiterated a “buy” rating and issued a $20.00 target price on shares of Welbilt in a research note on Wednesday, October 16th. Buckingham Research downgraded Welbilt from a “buy” rating to a “neutral” rating and lowered their target price for the company from $24.00 to $17.00 in a research note on Wednesday, December 11th. Finally, ValuEngine upgraded Welbilt from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.60.

Several institutional investors and hedge funds have recently bought and sold shares of WBT. Strs Ohio lifted its holdings in shares of Welbilt by 50.0% in the 3rd quarter. Strs Ohio now owns 3,600 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,200 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Welbilt during the 2nd quarter valued at $129,000. AdvisorNet Financial Inc lifted its position in shares of Welbilt by 9.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 9,524 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 800 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Welbilt during the 2nd quarter valued at $211,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Welbilt during the 3rd quarter valued at $216,000. 99.94% of the stock is owned by institutional investors and hedge funds.

Shares of WBT stock traded up $0.06 during midday trading on Tuesday, hitting $15.51. The company had a trading volume of 1,301,216 shares, compared to its average volume of 824,085. The company’s 50 day simple moving average is $15.87 and its 200 day simple moving average is $16.55. Welbilt has a 52-week low of $12.80 and a 52-week high of $19.81. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 36.07 and a beta of 1.56. The company has a debt-to-equity ratio of 6.30, a current ratio of 1.71 and a quick ratio of 1.10.

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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