Zacks: Brokerages Anticipate Weber Inc. (NYSE:WEBR) Will Post Earnings of $0.17 Per Share

Wall Street analysts predict that Weber Inc. (NYSE:WEBRGet Rating) will announce $0.17 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Weber’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.21. The firm is scheduled to report its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Weber will report full-year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.42 to $0.45. For the next financial year, analysts forecast that the firm will report earnings of $0.57 per share, with EPS estimates ranging from $0.52 to $0.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Weber.

Weber (NYSE:WEBRGet Rating) last announced its quarterly earnings results on Monday, February 14th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $283.10 million during the quarter, compared to analysts’ expectations of $310.78 million. The firm’s quarterly revenue was down 8.4% on a year-over-year basis.

A number of equities analysts have issued reports on WEBR shares. Zacks Investment Research cut shares of Weber from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. JPMorgan Chase & Co. lowered Weber from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $13.00 to $9.50 in a research report on Tuesday, February 15th. Wells Fargo & Company dropped their price objective on Weber from $14.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, February 15th. Bank of America cut Weber from a “buy” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $12.00 in a research note on Wednesday, January 19th. Finally, Citigroup dropped their price target on Weber from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, February 15th. Eight analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.36.

In related news, CEO Chris M. Scherzinger purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were purchased at an average cost of $9.96 per share, with a total value of $199,200.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan T. Congalton bought 10,000 shares of the company’s stock in a transaction on Thursday, February 17th. The stock was bought at an average cost of $10.59 per share, for a total transaction of $105,900.00. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Weber by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 114,102 shares of the company’s stock valued at $1,122,000 after acquiring an additional 3,840 shares in the last quarter. Swiss National Bank increased its holdings in Weber by 7.7% in the 1st quarter. Swiss National Bank now owns 43,500 shares of the company’s stock worth $428,000 after buying an additional 3,100 shares in the last quarter. Radnor Capital Management LLC purchased a new position in Weber in the 1st quarter worth about $316,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Weber by 23.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,741 shares of the company’s stock valued at $155,000 after acquiring an additional 2,956 shares during the period. Finally, Norges Bank purchased a new stake in shares of Weber during the 4th quarter valued at about $806,000. Institutional investors and hedge funds own 13.54% of the company’s stock.

NYSE:WEBR opened at $6.87 on Thursday. The company has a fifty day moving average of $9.89 and a 200 day moving average of $11.54. Weber has a 52 week low of $6.52 and a 52 week high of $20.44.

Weber Company Profile (Get Rating)

Weber Inc, an outdoor cooking company, manufactures and distributes outdoor cooking products, accessories, consumables, and services in North America, Europe, Australia, and internationally. Its products include charcoal and gas grills, smokers, pellet and electric grills, and Weber Connect Smart Grilling Hub; and accessories, consumables, and services.

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Earnings History and Estimates for Weber (NYSE:WEBR)

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