Welbilt Inc (WBT) Expected to Post Earnings of $0.11 Per Share

Brokerages expect Welbilt Inc (NYSE:WBT) to report $0.11 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Welbilt’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.12. Welbilt posted earnings of $0.08 per share during the same quarter last year, which indicates a positive year over year growth rate of 37.5%. The firm is scheduled to report its next earnings report on Monday, May 14th.

On average, analysts expect that Welbilt will report full-year earnings of $0.88 per share for the current fiscal year, with EPS estimates ranging from $0.84 to $0.90. For the next year, analysts anticipate that the company will report earnings of $1.07 per share, with EPS estimates ranging from $1.05 to $1.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Welbilt.

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Welbilt (NYSE:WBT) last posted its quarterly earnings data on Monday, February 26th. The industrial products company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Welbilt had a return on equity of 312.48% and a net margin of 9.27%. The firm had revenue of $365.90 million during the quarter, compared to analyst estimates of $382.51 million. During the same period last year, the company posted $0.16 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis.

Several research analysts have recently weighed in on the company. Zacks Investment Research raised Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Saturday, January 13th. Barclays assumed coverage on Welbilt in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $25.00 price objective for the company. Susquehanna Bancshares set a $25.00 price objective on Welbilt and gave the stock a “positive” rating in a research report on Tuesday, February 13th. Seaport Global Securities reissued a “buy” rating on shares of Welbilt in a research report on Tuesday, February 27th. Finally, Citigroup lowered their price objective on Welbilt from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.83.

Shares of WBT stock traded up $0.02 during mid-day trading on Wednesday, hitting $19.12. The company’s stock had a trading volume of 165,635 shares, compared to its average volume of 843,461. Welbilt has a 52 week low of $18.51 and a 52 week high of $23.77. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 11.16. The firm has a market cap of $2,670.22, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.18 and a beta of 1.31.

In related news, COO Josef Matosevic sold 1,681 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $21.79, for a total value of $36,628.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 7,110 shares of company stock valued at $142,365 over the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Gates Capital Management Inc. increased its position in Welbilt by 2.2% in the 4th quarter. Gates Capital Management Inc. now owns 3,530,872 shares of the industrial products company’s stock valued at $83,011,000 after buying an additional 74,927 shares in the last quarter. Teacher Retirement System of Texas increased its position in Welbilt by 313.3% in the 4th quarter. Teacher Retirement System of Texas now owns 44,995 shares of the industrial products company’s stock valued at $1,058,000 after buying an additional 34,108 shares in the last quarter. Koch Industries Inc. increased its position in Welbilt by 44.5% in the 4th quarter. Koch Industries Inc. now owns 23,705 shares of the industrial products company’s stock valued at $557,000 after buying an additional 7,303 shares in the last quarter. Lazard Asset Management LLC increased its position in Welbilt by 0.9% in the 4th quarter. Lazard Asset Management LLC now owns 2,285,264 shares of the industrial products company’s stock valued at $53,726,000 after buying an additional 19,360 shares in the last quarter. Finally, Three Peaks Capital Management LLC increased its position in Welbilt by 35.0% in the 4th quarter. Three Peaks Capital Management LLC now owns 263,556 shares of the industrial products company’s stock valued at $6,196,000 after buying an additional 68,270 shares in the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

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About Welbilt

Welbilt, Inc, formerly Manitowoc Foodservice, Inc, is a commercial foodservice equipment company. The Company designs, manufactures and supplies food and beverage equipment for the global commercial foodservice market, offering customers operator and patron insights, kitchen solutions, culinary expertise, and implementation support and service.

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Earnings History and Estimates for Welbilt (NYSE:WBT)

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