Brokerages Anticipate Welbilt, Inc (NYSE:WBT) to Post $0.18 EPS

Wall Street brokerages expect Welbilt, Inc (NYSE:WBT) to report $0.18 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Welbilt’s earnings. The lowest EPS estimate is $0.16 and the highest is $0.20. Welbilt reported earnings of $0.20 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 10%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, August 6th.

According to Zacks, analysts expect that Welbilt will report full year earnings of $0.75 per share for the current year, with EPS estimates ranging from $0.73 to $0.77. For the next year, analysts anticipate that the firm will report earnings of $1.00 per share, with EPS estimates ranging from $0.95 to $1.07. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Welbilt.

Welbilt (NYSE:WBT) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $375.30 million during the quarter, compared to analyst estimates of $373.44 million. Welbilt had a net margin of 3.75% and a return on equity of 57.14%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share.

WBT has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Zymeworks from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Saturday, April 27th. Citigroup raised shares of Welbilt from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.00 to $19.00 in a report on Wednesday, July 10th. Finally, ValuEngine cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.57.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in Welbilt by 22.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 32,839 shares of the industrial products company’s stock valued at $365,000 after acquiring an additional 6,066 shares during the period. BlackRock Inc. raised its holdings in Welbilt by 1.7% during the 4th quarter. BlackRock Inc. now owns 5,632,581 shares of the industrial products company’s stock valued at $62,578,000 after acquiring an additional 91,945 shares during the period. Bank of New York Mellon Corp raised its holdings in Welbilt by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,733,532 shares of the industrial products company’s stock valued at $19,259,000 after acquiring an additional 165,931 shares during the period. Citigroup Inc. raised its holdings in Welbilt by 3,134.9% during the 4th quarter. Citigroup Inc. now owns 39,401 shares of the industrial products company’s stock valued at $438,000 after acquiring an additional 38,183 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in Welbilt by 81.1% during the 4th quarter. GSA Capital Partners LLP now owns 39,667 shares of the industrial products company’s stock valued at $441,000 after acquiring an additional 17,761 shares during the period. 99.84% of the stock is currently owned by institutional investors.

Shares of Welbilt stock traded up $0.19 during trading on Friday, reaching $16.71. The company’s stock had a trading volume of 1,067,619 shares, compared to its average volume of 1,811,930. The stock has a 50-day moving average price of $16.10. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 21.42 and a beta of 1.66. Welbilt has a fifty-two week low of $10.66 and a fifty-two week high of $23.35. The company has a debt-to-equity ratio of 8.18, a quick ratio of 1.08 and a current ratio of 1.74.

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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Earnings History and Estimates for Welbilt (NYSE:WBT)

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