Q3 2018 EPS Estimates for Welbilt, Inc Reduced by Seaport Global Securities (WBT)
Welbilt, Inc (NYSE:WBT) – Analysts at Seaport Global Securities dropped their Q3 2018 earnings per share (EPS) estimates for Welbilt in a report issued on Friday, August 10th. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings per share of $0.27 for the quarter, down from their previous forecast of $0.29. Seaport Global Securities also issued estimates for Welbilt’s Q4 2018 earnings at $0.22 EPS, Q2 2019 earnings at $0.29 EPS and Q4 2019 earnings at $0.30 EPS.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Thursday, July 26th. Longbow Research raised shares of Welbilt from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 18th. Buckingham Research initiated coverage on shares of Welbilt in a research report on Thursday, May 24th. They set a “buy” rating and a $24.00 price target on the stock. CL King initiated coverage on shares of Welbilt in a research report on Thursday, June 28th. They set a “neutral” rating on the stock. Finally, Citigroup raised their price target on shares of Welbilt from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, June 8th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Welbilt presently has an average rating of “Buy” and an average target price of $24.14.
Welbilt (NYSE:WBT) last issued its quarterly earnings data on Thursday, August 9th. The industrial products company reported $0.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The company had revenue of $420.70 million for the quarter, compared to analyst estimates of $401.45 million. Welbilt had a net margin of 8.14% and a return on equity of 123.68%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in the business. Select Equity Group L.P. increased its holdings in Welbilt by 7.1% in the 1st quarter. Select Equity Group L.P. now owns 12,538,245 shares of the industrial products company’s stock valued at $243,869,000 after buying an additional 828,497 shares during the period. BlackRock Inc. increased its holdings in Welbilt by 6.3% in the 2nd quarter. BlackRock Inc. now owns 5,686,526 shares of the industrial products company’s stock valued at $126,868,000 after buying an additional 336,654 shares during the period. Champlain Investment Partners LLC increased its holdings in Welbilt by 13.7% in the 1st quarter. Champlain Investment Partners LLC now owns 4,897,870 shares of the industrial products company’s stock valued at $95,264,000 after buying an additional 589,100 shares during the period. Brown Advisory Inc. increased its holdings in Welbilt by 45.5% in the 2nd quarter. Brown Advisory Inc. now owns 4,114,080 shares of the industrial products company’s stock valued at $91,784,000 after buying an additional 1,287,240 shares during the period. Finally, Earnest Partners LLC increased its holdings in Welbilt by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 3,214,211 shares of the industrial products company’s stock valued at $71,709,000 after buying an additional 12,574 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Joel H. Horn sold 1,918 shares of the firm’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $21.05, for a total transaction of $40,373.90. Following the transaction, the senior vice president now directly owns 2,375 shares of the company’s stock, valued at $49,993.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.
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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