According to Zacks, “Owing to significant global presence, Whirlpool remains prone to adverse foreign currency movements. In fact, the company’s second quarter top-line was hurt by these currency headwinds, which are expected to linger and hurt its results through the rest of the year. Further, the company is struggling due to weak emerging market demand, specifically in Brazil. Moreover, estimates have been trending downwards lately, ahead of the company’s third-quarter earnings release, though the company has a decent earnings surprise history. Further, Whirlpool’s solid integration and cost-productivity activities are expected to enhance its performance. The company’s innovation strategy that helps it to tap additional sales and gain market share, also bodes well. Constant dividend payments and share buybacks further reflect its ability to grow earnings and cash flows.”
Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial Inc. cut shares of Whirlpool Corp. from a strong-buy rating to a hold rating in a research report on Monday, July 25th. MKM Partners increased their price target on shares of Whirlpool Corp. from $204.00 to $215.00 and gave the company a buy rating in a research report on Monday, July 25th. Bank of America Corp. reissued a buy rating on shares of Whirlpool Corp. in a research report on Wednesday, June 29th. Finally, Gabelli cut shares of Whirlpool Corp. from a buy rating to a hold rating in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Whirlpool Corp. currently has an average rating of Buy and an average price target of $198.50.
Shares of Whirlpool Corp. (NYSE:WHR) traded up 0.66% during trading on Thursday, hitting $161.41. 94,426 shares of the stock were exchanged. The stock’s 50 day moving average price is $173.92 and its 200 day moving average price is $176.77. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 14.30 and a beta of 1.71. Whirlpool Corp. has a 52 week low of $123.60 and a 52 week high of $194.10.
Whirlpool Corp. (NYSE:WHR) last announced its quarterly earnings data on Friday, July 22nd. The company reported $3.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.37 by $0.13. Whirlpool Corp. had a net margin of 4.29% and a return on equity of 18.68%. The company earned $5.21 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the prior year, the company earned $2.70 EPS. The firm’s revenue was down .2% on a year-over-year basis. On average, equities analysts predict that Whirlpool Corp. will post $14.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, August 26th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $4.00 annualized dividend and a yield of 2.49%. Whirlpool Corp.’s dividend payout ratio (DPR) is presently 35.40%.
In related news, Chairman Jeff M. Fettig sold 91,000 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $189.42, for a total value of $17,237,220.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David T. Szczupak sold 10,307 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $181.33, for a total transaction of $1,868,968.31. Following the completion of the transaction, the insider now owns 4,807 shares of the company’s stock, valued at $871,653.31. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Fairpointe Capital LLC acquired a new position in shares of Whirlpool Corp. during the first quarter valued at about $88,525,000. CI Investments Inc. acquired a new position in shares of Whirlpool Corp. during the second quarter valued at about $81,358,000. Eaton Vance Management raised its position in shares of Whirlpool Corp. by 4,441.1% in the second quarter. Eaton Vance Management now owns 388,988 shares of the company’s stock valued at $64,821,000 after buying an additional 380,422 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Whirlpool Corp. by 68.9% in the second quarter. Neuberger Berman Group LLC now owns 804,176 shares of the company’s stock valued at $134,008,000 after buying an additional 327,929 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Whirlpool Corp. by 116.7% in the first quarter. TIAA CREF Investment Management LLC now owns 513,477 shares of the company’s stock valued at $92,600,000 after buying an additional 276,502 shares during the last quarter. Institutional investors own 89.59% of the company’s stock.
About Whirlpool Corp.
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company manufactures products in approximately 15 countries and markets products around the world under brand names, such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air and Indesit. The Company’s segments include North America, Latin America, EMEA (Europe, Middle East and Africa) and Asia.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Whirlpool Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Whirlpool Corp. and related companies with MarketBeat.com's FREE daily email newsletter.