Brokerages forecast that Welbilt, Inc (NYSE:WBT) will announce sales of $196.33 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Welbilt’s earnings. The highest sales estimate is $212.90 million and the lowest is $165.20 million. Welbilt posted sales of $426.30 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 53.9%. The firm is expected to report its next earnings report on Tuesday, August 4th.
According to Zacks, analysts expect that Welbilt will report full year sales of $1.12 billion for the current financial year, with estimates ranging from $1.03 billion to $1.19 billion. For the next financial year, analysts anticipate that the company will report sales of $1.26 billion, with estimates ranging from $1.16 billion to $1.35 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Welbilt.
Welbilt (NYSE:WBT) last released its earnings results on Tuesday, May 5th. The industrial products company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $323.10 million. Welbilt had a net margin of 2.80% and a return on equity of 39.54%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of WBT. Reitz Capital Advisors LLC purchased a new stake in shares of Welbilt during the second quarter valued at $29,000. Skyline Asset Management LP raised its holdings in Welbilt by 114.2% in the second quarter. Skyline Asset Management LP now owns 1,000,900 shares of the industrial products company’s stock worth $6,095,000 after purchasing an additional 533,600 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Welbilt by 10.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 24,217 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 2,373 shares in the last quarter. FDx Advisors Inc. bought a new position in Welbilt in the first quarter worth about $795,000. Finally, Voloridge Investment Management LLC bought a new position in Welbilt in the first quarter worth about $856,000. 91.82% of the stock is owned by institutional investors.
Welbilt stock opened at $6.10 on Wednesday. The stock has a market cap of $847.59 million, a P/E ratio of 20.33 and a beta of 1.94. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.03 and a quick ratio of 1.33. Welbilt has a 1 year low of $3.17 and a 1 year high of $19.81. The firm’s 50 day moving average price is $6.22 and its 200-day moving average price is $8.88.
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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