Whirlpool (NYSE:WHR) Announces Earnings Results

Whirlpool (NYSE:WHR) issued its earnings results on Wednesday. The company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.44, Briefing.com reports. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the company earned $5.45 earnings per share. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. Whirlpool updated its FY24 guidance to approx $12.00 EPS and its FY 2024 guidance to 12.000-12.000 EPS.

Whirlpool Stock Performance

NYSE WHR opened at $110.34 on Friday. The company has a market cap of $6.06 billion, a P/E ratio of 11.41 and a beta of 1.44. The business’s 50 day moving average price is $101.86 and its 200-day moving average price is $98.97. Whirlpool has a fifty-two week low of $84.18 and a fifty-two week high of $127.58. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.58 and a current ratio of 0.96.

Whirlpool Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.75 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $7.00 annualized dividend and a yield of 6.34%. Whirlpool’s payout ratio is currently 72.39%.

Analyst Ratings Changes

WHR has been the topic of a number of recent research reports. Royal Bank of Canada decreased their target price on Whirlpool from $79.00 to $76.00 and set an “underperform” rating on the stock in a report on Friday, July 26th. Bank of America started coverage on Whirlpool in a research report on Tuesday, July 30th. They issued an “underperform” rating and a $88.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Whirlpool has an average rating of “Hold” and a consensus target price of $103.75.

Insiders Place Their Bets

In other news, EVP Juan Carlos Puente sold 3,266 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $100.00, for a total value of $326,600.00. Following the completion of the sale, the executive vice president now owns 19,070 shares in the company, valued at approximately $1,907,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.05% of the stock is owned by insiders.

About Whirlpool

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.