Zacks: Analysts Anticipate Welbilt, Inc (WBT) Will Post Earnings of $0.18 Per Share

Equities analysts forecast that Welbilt, Inc (NYSE:WBT) will announce $0.18 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Welbilt’s earnings. The lowest EPS estimate is $0.17 and the highest is $0.20. Welbilt posted earnings per share of $0.26 in the same quarter last year, which indicates a negative year-over-year growth rate of 30.8%. The company is expected to announce its next earnings report on Monday, February 25th.

On average, analysts expect that Welbilt will report full year earnings of $0.78 per share for the current year, with EPS estimates ranging from $0.77 to $0.80. For the next fiscal year, analysts expect that the firm will report earnings of $0.92 per share, with EPS estimates ranging from $0.84 to $1.00. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Welbilt.

Welbilt (NYSE:WBT) last issued its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The business had revenue of $412.90 million for the quarter, compared to analyst estimates of $421.89 million. Welbilt had a net margin of 7.56% and a return on equity of 88.66%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share.

WBT has been the subject of a number of analyst reports. KeyCorp reduced their price objective on shares of Welbilt from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, November 6th. Wedbush reduced their price objective on shares of Welbilt from $29.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. Robert W. Baird set a $19.00 price objective on shares of Welbilt and gave the company a “buy” rating in a report on Monday, November 5th. Citigroup reduced their price objective on shares of Welbilt from $23.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, November 6th. Finally, Zacks Investment Research cut shares of Welbilt from a “hold” rating to a “strong sell” rating in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Welbilt presently has an average rating of “Buy” and a consensus price target of $21.75.

In other news, VP Richard James Sheffer purchased 4,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 27th. The shares were acquired at an average cost of $13.71 per share, for a total transaction of $60,324.00. Following the completion of the acquisition, the vice president now owns 4,400 shares in the company, valued at $60,324. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Haresh Shah purchased 4,500 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The shares were purchased at an average price of $14.04 per share, for a total transaction of $63,180.00. Following the completion of the acquisition, the chief financial officer now owns 4,500 shares of the company’s stock, valued at approximately $63,180. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 38,862 shares of company stock worth $522,897. 0.37% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Welbilt by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,039,941 shares of the industrial products company’s stock worth $251,394,000 after purchasing an additional 102,013 shares during the last quarter. Standard Life Aberdeen plc boosted its holdings in Welbilt by 6.9% during the third quarter. Standard Life Aberdeen plc now owns 2,395,216 shares of the industrial products company’s stock worth $50,024,000 after purchasing an additional 154,819 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Welbilt by 9.2% during the third quarter. TIAA CREF Investment Management LLC now owns 1,499,294 shares of the industrial products company’s stock worth $31,305,000 after purchasing an additional 126,492 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Welbilt by 5.2% during the third quarter. Teachers Advisors LLC now owns 153,008 shares of the industrial products company’s stock worth $3,195,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in Welbilt by 56.1% during the third quarter. Glenmede Trust Co. NA now owns 13,065 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 4,695 shares during the last quarter. Institutional investors and hedge funds own 92.24% of the company’s stock.

Shares of NYSE WBT traded down $0.65 during mid-day trading on Tuesday, reaching $13.01. 1,409,200 shares of the company’s stock traded hands, compared to its average volume of 1,053,223. The stock has a market capitalization of $1.94 billion, a P/E ratio of 16.90 and a beta of 1.12. Welbilt has a 1-year low of $12.75 and a 1-year high of $23.85. The company has a debt-to-equity ratio of 8.23, a current ratio of 1.36 and a quick ratio of 0.74.

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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