Welbilt, Inc (NYSE:WBT) Expected to Announce Earnings of $0.12 Per Share

Wall Street brokerages predict that Welbilt, Inc (NYSE:WBTGet Rating) will post $0.12 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Welbilt’s earnings. Welbilt posted earnings of $0.08 per share in the same quarter last year, which indicates a positive year over year growth rate of 50%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Welbilt will report full year earnings of $0.90 per share for the current fiscal year, with EPS estimates ranging from $0.79 to $1.00. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Welbilt.

Welbilt (NYSE:WBTGet Rating) last announced its earnings results on Monday, February 28th. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.03). Welbilt had a return on equity of 30.47% and a net margin of 4.54%. The firm had revenue of $423.00 million for the quarter, compared to analyst estimates of $386.80 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s revenue was up 32.2% compared to the same quarter last year.

A number of brokerages recently issued reports on WBT. Zacks Investment Research lowered shares of Welbilt from a “buy” rating to a “hold” rating in a research report on Friday, January 7th. StockNews.com initiated coverage on shares of Welbilt in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Welbilt currently has an average rating of “Hold” and a consensus price target of $25.17.

NYSE WBT traded up $0.01 during mid-day trading on Monday, reaching $23.71. 1,387,485 shares of the stock were exchanged, compared to its average volume of 1,651,110. Welbilt has a 1-year low of $19.39 and a 1-year high of $25.19. The business’s fifty day simple moving average is $23.73 and its 200 day simple moving average is $23.72. The stock has a market capitalization of $3.39 billion, a PE ratio of 47.42 and a beta of 2.18. The company has a debt-to-equity ratio of 3.87, a quick ratio of 1.11 and a current ratio of 1.90.

Several institutional investors have recently modified their holdings of WBT. Versor Investments LP raised its stake in shares of Welbilt by 3,376.4% in the 3rd quarter. Versor Investments LP now owns 3,927,802 shares of the industrial products company’s stock valued at $91,282,000 after buying an additional 3,814,817 shares in the last quarter. Magnetar Financial LLC grew its holdings in Welbilt by 129.3% during the 3rd quarter. Magnetar Financial LLC now owns 6,398,485 shares of the industrial products company’s stock worth $148,701,000 after acquiring an additional 3,608,311 shares during the last quarter. UBS Group AG boosted its stake in shares of Welbilt by 4,021.4% in the 3rd quarter. UBS Group AG now owns 3,074,722 shares of the industrial products company’s stock valued at $71,456,000 after purchasing an additional 3,000,118 shares during the last quarter. PSquared Asset Management AG bought a new position in shares of Welbilt in the 3rd quarter valued at about $61,586,000. Finally, Millennium Management LLC boosted its stake in shares of Welbilt by 76.5% in the 4th quarter. Millennium Management LLC now owns 5,618,286 shares of the industrial products company’s stock valued at $133,547,000 after purchasing an additional 2,434,481 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

About Welbilt (Get Rating)

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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