Welbilt, Inc (NYSE:WBT) – Stock analysts at Seaport Global Securities cut their FY2019 earnings per share estimates for shares of Welbilt in a research report issued to clients and investors on Tuesday, November 5th. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings of $0.68 per share for the year, down from their previous estimate of $0.71. Seaport Global Securities also issued estimates for Welbilt’s Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.25 EPS and FY2020 earnings at $0.90 EPS.

Welbilt (NYSE:WBT) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). Welbilt had a net margin of 3.82% and a return on equity of 48.23%. The business had revenue of $410.50 million during the quarter, compared to analyst estimates of $423.03 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue was down .6% on a year-over-year basis.

WBT has been the subject of a number of other reports. BMO Capital Markets assumed coverage on Welbilt in a research note on Friday, October 18th. They issued a “market perform” rating and a $19.00 target price for the company. ValuEngine cut Welbilt from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, Barclays reissued a “buy” rating and issued a $20.00 target price on shares of Welbilt in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $18.40.

NYSE:WBT opened at $18.16 on Friday. Welbilt has a 1 year low of $10.66 and a 1 year high of $19.81. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 6.81. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 23.28 and a beta of 1.70. The stock has a 50-day moving average price of $17.60 and a two-hundred day moving average price of $16.53.

In other news, CEO William Johnson acquired 13,496 shares of Welbilt stock in a transaction dated Wednesday, August 28th. The stock was bought at an average cost of $14.82 per share, with a total value of $200,010.72. Following the completion of the transaction, the chief executive officer now directly owns 78,502 shares of the company’s stock, valued at $1,163,399.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Strs Ohio acquired a new position in shares of Welbilt during the second quarter worth about $40,000. Huntington National Bank boosted its position in shares of Welbilt by 39.8% during the second quarter. Huntington National Bank now owns 4,571 shares of the industrial products company’s stock worth $77,000 after buying an additional 1,301 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Welbilt during the second quarter worth about $129,000. AdvisorNet Financial Inc boosted its position in shares of Welbilt by 9.2% during the third quarter. AdvisorNet Financial Inc now owns 9,524 shares of the industrial products company’s stock worth $161,000 after buying an additional 800 shares during the period. Finally, CWM Advisors LLC acquired a new position in shares of Welbilt during the second quarter worth about $176,000.

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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