Analysts Anticipate Weber Inc. (NYSE:WEBR) Will Post Quarterly Sales of $661.23 Million

Equities research analysts predict that Weber Inc. (NYSE:WEBRGet Rating) will post $661.23 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Weber’s earnings, with the lowest sales estimate coming in at $659.40 million and the highest estimate coming in at $663.06 million. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Weber will report full year sales of $2.08 billion for the current year, with estimates ranging from $2.08 billion to $2.09 billion. For the next financial year, analysts anticipate that the company will report sales of $2.17 billion, with estimates ranging from $2.12 billion to $2.21 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Weber.

Weber (NYSE:WEBRGet Rating) last released its quarterly earnings results on Monday, February 14th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $283.10 million for the quarter, compared to analyst estimates of $310.78 million. Weber’s revenue was down 8.4% on a year-over-year basis.

A number of research analysts recently commented on the company. Zacks Investment Research upgraded Weber from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, April 20th. Citigroup reduced their target price on Weber from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, February 15th. BMO Capital Markets reduced their target price on Weber from $16.00 to $13.00 in a report on Tuesday, February 15th. Wells Fargo & Company reduced their target price on Weber from $14.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, February 15th. Finally, JPMorgan Chase & Co. downgraded Weber from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $13.00 to $9.50 in a report on Tuesday, February 15th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Weber presently has an average rating of “Hold” and an average price target of $11.36.

Shares of NYSE WEBR traded down $0.12 during trading on Friday, reaching $8.78. The stock had a trading volume of 223,066 shares, compared to its average volume of 346,752. Weber has a one year low of $8.56 and a one year high of $20.44. The firm’s 50 day moving average price is $10.33 and its two-hundred day moving average price is $12.02.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Tuesday, March 8th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, March 7th.

In other Weber news, CEO Chris M. Scherzinger bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was purchased at an average price of $9.96 per share, for a total transaction of $199,200.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan T. Congalton bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The shares were acquired at an average price of $10.59 per share, with a total value of $105,900.00. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada acquired a new stake in Weber during the 3rd quarter valued at $27,000. Citigroup Inc. acquired a new stake in Weber during the 3rd quarter worth $34,000. US Bancorp DE acquired a new stake in Weber during the 3rd quarter worth $35,000. Amplius Wealth Advisors LLC acquired a new stake in shares of Weber during the fourth quarter worth $38,000. Finally, Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Weber during the fourth quarter worth $47,000. 12.50% of the stock is owned by institutional investors and hedge funds.

About Weber (Get Rating)

Weber Inc, an outdoor cooking company, manufactures and distributes outdoor cooking products, accessories, consumables, and services in North America, Europe, Australia, and internationally. Its products include charcoal and gas grills, smokers, pellet and electric grills, and Weber Connect Smart Grilling Hub; and accessories, consumables, and services.

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