Welbilt, Inc (NYSE:WBT) – Analysts at Seaport Global Securities lowered their Q2 2019 earnings estimates for Welbilt in a report released on Tuesday, November 6th. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will earn $0.23 per share for the quarter, down from their prior forecast of $0.29. Seaport Global Securities also issued estimates for Welbilt’s FY2019 earnings at $0.84 EPS and FY2020 earnings at $0.97 EPS.

A number of other brokerages have also recently weighed in on WBT. Zacks Investment Research upgraded shares of Welbilt from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Sunday, July 15th. Barclays set a $25.00 price objective on shares of Welbilt and gave the stock a “buy” rating in a research note on Monday, August 20th. Citigroup reduced their price objective on shares of Welbilt from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, August 15th. Robert W. Baird set a $19.00 price objective on shares of Welbilt and gave the stock a “buy” rating in a research note on Monday, November 5th. Finally, KeyCorp reduced their price objective on shares of Welbilt from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $21.75.

Shares of Welbilt stock opened at $14.18 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 10.00. Welbilt has a 1-year low of $13.40 and a 1-year high of $23.85. The firm has a market capitalization of $2.05 billion, a PE ratio of 18.42 and a beta of 1.23.

Welbilt (NYSE:WBT) last posted its earnings results on Monday, November 5th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.03). The business had revenue of $412.90 million during the quarter, compared to analyst estimates of $421.89 million. Welbilt had a net margin of 7.56% and a return on equity of 95.12%. Welbilt’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share.

A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in Welbilt by 8.9% during the second quarter. Bank of Montreal Can now owns 27,814 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 2,269 shares during the period. US Bancorp DE increased its position in Welbilt by 11.7% during the second quarter. US Bancorp DE now owns 22,616 shares of the industrial products company’s stock worth $505,000 after acquiring an additional 2,369 shares during the period. Amalgamated Bank increased its position in Welbilt by 10.7% during the second quarter. Amalgamated Bank now owns 30,386 shares of the industrial products company’s stock worth $678,000 after acquiring an additional 2,925 shares during the period. Diversified Trust Co increased its position in Welbilt by 18.7% during the second quarter. Diversified Trust Co now owns 20,000 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 3,150 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Welbilt by 32.3% during the second quarter. State of Alaska Department of Revenue now owns 15,650 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 3,820 shares during the period. 90.87% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Richard N. Caron sold 9,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $21.88, for a total value of $196,920.00. Following the completion of the sale, the executive vice president now directly owns 100 shares in the company, valued at $2,188. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by insiders.

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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