Analysts Anticipate Welbilt, Inc (WBT) Will Announce Quarterly Sales of $422.05 Million

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Brokerages expect Welbilt, Inc (NYSE:WBT) to post $422.05 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Welbilt’s earnings, with the lowest sales estimate coming in at $419.00 million and the highest estimate coming in at $425.80 million. Welbilt posted sales of $380.40 million in the same quarter last year, which suggests a positive year over year growth rate of 10.9%. The business is scheduled to issue its next quarterly earnings report on Monday, November 5th.

According to Zacks, analysts expect that Welbilt will report full year sales of $1.58 billion for the current year, with estimates ranging from $1.56 billion to $1.58 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.67 billion per share, with estimates ranging from $1.66 billion to $1.69 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Welbilt.

Welbilt (NYSE:WBT) last posted its quarterly earnings results on Thursday, August 9th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.20. The business had revenue of $420.70 million during the quarter, compared to analysts’ expectations of $401.45 million. Welbilt had a net margin of 8.14% and a return on equity of 123.68%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share.

A number of research firms have issued reports on WBT. CL King began coverage on shares of Welbilt in a report on Thursday, June 28th. They issued a “neutral” rating for the company. Buckingham Research began coverage on shares of Welbilt in a report on Thursday, May 24th. They issued a “buy” rating and a $24.00 price target for the company. Zacks Investment Research raised shares of Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, July 26th. Citigroup raised their price target on shares of Welbilt from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, June 8th. Finally, Longbow Research raised shares of Welbilt from a “neutral” rating to a “buy” rating in a report on Wednesday, April 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Welbilt presently has an average rating of “Buy” and a consensus target price of $24.14.

In related news, SVP Joel H. Horn sold 1,918 shares of the firm’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $21.05, for a total transaction of $40,373.90. Following the completion of the transaction, the senior vice president now owns 2,375 shares of the company’s stock, valued at $49,993.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in shares of Welbilt by 8.9% during the second quarter. Bank of Montreal Can now owns 27,814 shares of the industrial products company’s stock worth $620,000 after purchasing an additional 2,269 shares during the last quarter. US Bancorp DE raised its holdings in shares of Welbilt by 11.7% during the second quarter. US Bancorp DE now owns 22,616 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 2,369 shares during the last quarter. Broadview Advisors LLC raised its holdings in shares of Welbilt by 0.8% during the first quarter. Broadview Advisors LLC now owns 341,802 shares of the industrial products company’s stock worth $6,648,000 after purchasing an additional 2,850 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Welbilt by 10.7% during the second quarter. Amalgamated Bank now owns 30,386 shares of the industrial products company’s stock worth $678,000 after purchasing an additional 2,925 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Welbilt by 18.7% during the second quarter. Diversified Trust Co now owns 20,000 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 3,150 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE WBT traded down $0.40 during midday trading on Friday, reaching $20.37. The company had a trading volume of 1,421,186 shares, compared to its average volume of 945,974. The stock has a market cap of $2.91 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.34 and a beta of 1.18. Welbilt has a 1 year low of $18.34 and a 1 year high of $23.85. The company has a current ratio of 1.61, a quick ratio of 0.97 and a debt-to-equity ratio of 9.67.

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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