Welbilt, Inc (NYSE:WBT) – Investment analysts at KeyCorp dropped their FY2019 earnings per share (EPS) estimates for Welbilt in a research report issued to clients and investors on Wednesday, October 16th. KeyCorp analyst J. Hammond now anticipates that the industrial products company will post earnings per share of $0.72 for the year, down from their prior estimate of $0.74. KeyCorp also issued estimates for Welbilt’s Q4 2019 earnings at $0.21 EPS and FY2020 earnings at $0.93 EPS.

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

Several other equities analysts have also commented on WBT. Citigroup upgraded Welbilt from a “neutral” rating to a “buy” rating and raised their price target for the company from $17.00 to $19.00 in a research note on Wednesday, July 10th. Barclays restated a “buy” rating and set a $20.00 price target on shares of Welbilt in a research note on Wednesday, October 16th. BMO Capital Markets initiated coverage on Welbilt in a research note on Friday. They set a “market perform” rating and a $19.00 price target on the stock. Finally, ValuEngine upgraded Welbilt from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Welbilt has a consensus rating of “Buy” and an average price target of $19.71.

Shares of Welbilt stock opened at $18.18 on Monday. The firm has a market cap of $2.53 billion, a P/E ratio of 23.31 and a beta of 1.67. 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 $19.56. The stock’s fifty day moving average price is $16.81 and its 200-day moving average price is $16.37.

In other news, CEO William Johnson purchased 13,496 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $14.82 per share, for a total transaction of $200,010.72. Following the completion of the purchase, the chief executive officer now owns 78,502 shares in the company, valued at approximately $1,163,399.64. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Welbilt by 4.2% during the second quarter. Vanguard Group Inc. now owns 11,927,004 shares of the industrial products company’s stock valued at $199,180,000 after purchasing an additional 484,737 shares in the last quarter. BlackRock Inc. boosted its position in Welbilt by 56.8% during the second quarter. BlackRock Inc. now owns 8,707,096 shares of the industrial products company’s stock valued at $145,409,000 after purchasing an additional 3,152,913 shares in the last quarter. Impax Asset Management Group plc boosted its position in Welbilt by 5.8% during the second quarter. Impax Asset Management Group plc now owns 8,529,334 shares of the industrial products company’s stock valued at $142,440,000 after purchasing an additional 464,398 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Welbilt during the second quarter valued at about $135,031,000. Finally, Scopia Capital Management LP boosted its position in Welbilt by 178.5% during the second quarter. Scopia Capital Management LP now owns 5,764,889 shares of the industrial products company’s stock valued at $96,274,000 after purchasing an additional 3,694,892 shares in the last quarter.

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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