Welbilt, Inc (NYSE:WBT) Expected to Post Earnings of $0.10 Per Share

Analysts expect Welbilt, Inc (NYSE:WBT) to announce earnings of $0.10 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Welbilt’s earnings, with estimates ranging from $0.07 to $0.12. Welbilt reported earnings per share of ($0.07) in the same quarter last year, which suggests a positive year-over-year growth rate of 242.9%. The firm is scheduled to report its next quarterly earnings results on Tuesday, August 3rd.

On average, analysts expect that Welbilt will report full year earnings of $0.47 per share for the current fiscal year, with EPS estimates ranging from $0.44 to $0.56. For the next financial year, analysts expect that the firm will report earnings of $0.77 per share, with EPS estimates ranging from $0.69 to $0.80. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Welbilt.

Welbilt (NYSE:WBT) last released its quarterly earnings results on Thursday, May 6th. The industrial products company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $316.80 million for the quarter, compared to analysts’ expectations of $287.77 million. Welbilt had a return on equity of 13.46% and a net margin of 1.37%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS.

Several research analysts recently weighed in on the company. increased their target price on Welbilt from $24.75 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 2nd. Seaport Res Ptn lowered Welbilt from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 13th. CL King lowered Welbilt from a “buy” rating to a “neutral” rating in a research report on Friday, July 2nd. BMO Capital Markets lifted their target price on Welbilt from $17.00 to $25.00 and gave the stock a “market perform” rating in a research report on Monday, May 10th. Finally, William Blair downgraded Welbilt from an “outperform” rating to a “market perform” rating and set a $24.00 price target for the company. in a research note on Tuesday, July 13th. Ten analysts have rated the stock with a hold rating, Welbilt currently has an average rating of “Hold” and a consensus price target of $23.25.

WBT stock opened at $23.49 on Thursday. Welbilt has a 52-week low of $5.78 and a 52-week high of $25.19. The business’s fifty day simple moving average is $23.23. The company has a quick ratio of 1.36, a current ratio of 2.12 and a debt-to-equity ratio of 5.21. The firm has a market capitalization of $3.34 billion, a PE ratio of 213.55 and a beta of 2.46.

A number of large investors have recently modified their holdings of WBT. Squarepoint Ops LLC raised its position in shares of Welbilt by 118.8% during the fourth quarter. Squarepoint Ops LLC now owns 108,434 shares of the industrial products company’s stock valued at $1,431,000 after buying an additional 58,874 shares during the last quarter. Select Equity Group L.P. acquired a new position in Welbilt in the fourth quarter valued at approximately $16,927,000. HN Saltoro Capital LP acquired a new position in Welbilt in the fourth quarter valued at approximately $950,000. Verition Fund Management LLC acquired a new position in Welbilt in the fourth quarter valued at approximately $183,000. Finally, Nuveen Asset Management LLC lifted its holdings in Welbilt by 82.7% in the fourth quarter. Nuveen Asset Management LLC now owns 1,076,699 shares of the industrial products company’s stock valued at $14,213,000 after buying an additional 487,268 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

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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