Equities analysts forecast that Welbilt, Inc (NYSE:WBT) will report $430.43 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Welbilt’s earnings. The highest sales estimate is $436.40 million and the lowest is $425.30 million. Welbilt reported sales of $412.90 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The business is scheduled to issue its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Welbilt will report full year sales of $1.65 billion for the current year, with estimates ranging from $1.64 billion to $1.67 billion. For the next year, analysts forecast that the firm will report sales of $1.71 billion, with estimates ranging from $1.70 billion to $1.73 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Welbilt.

Welbilt (NYSE:WBT) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. Welbilt had a net margin of 4.23% and a return on equity of 52.45%. The company had revenue of $426.30 million for the quarter, compared to analysts’ expectations of $427.07 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. Welbilt’s quarterly revenue was up 1.3% on a year-over-year basis.

A number of research firms have weighed in on WBT. ValuEngine upgraded shares of Welbilt from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of Welbilt from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Citigroup upgraded shares of Welbilt from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $17.00 to $19.00 in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $19.67.

WBT traded up $0.18 during trading hours on Thursday, hitting $15.45. The company’s stock had a trading volume of 1,227,800 shares, compared to its average volume of 1,315,464. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 6.81. Welbilt has a 12 month low of $10.66 and a 12 month high of $22.41. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 19.81 and a beta of 1.66. The business’s 50-day moving average price is $16.29 and its 200-day moving average price is $16.07.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Welbilt by 5.4% in the second quarter. US Bancorp DE now owns 17,659 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 903 shares during the last quarter. River Wealth Advisors LLC grew its holdings in shares of Welbilt by 2.3% in the first quarter. River Wealth Advisors LLC now owns 44,428 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 1,000 shares during the last quarter. Huntington National Bank grew its holdings in shares of Welbilt by 39.8% in the second quarter. Huntington National Bank now owns 4,571 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 1,301 shares during the last quarter. Investec Asset Management PTY Ltd grew its holdings in shares of Welbilt by 2.7% in the first quarter. Investec Asset Management PTY Ltd now owns 65,283 shares of the industrial products company’s stock worth $1,062,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Welbilt by 18.1% in the first quarter. Nisa Investment Advisors LLC now owns 12,400 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 98.85% of the company’s stock.

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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Earnings History and Estimates for Welbilt (NYSE:WBT)

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