Whirlpool (NYSE:WHR) Updates FY24 Earnings Guidance

Whirlpool (NYSE:WHR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of approx $12.00 for the period, compared to the consensus earnings per share estimate of $11.48. The company issued revenue guidance of approx $16.9 billion, compared to the consensus revenue estimate of $16.77 billion.

Whirlpool Stock Performance

Shares of NYSE WHR traded down $3.01 during midday trading on Wednesday, reaching $99.28. The company had a trading volume of 1,417,757 shares, compared to its average volume of 1,190,780. The stock has a market cap of $5.45 billion, a P/E ratio of 10.56 and a beta of 1.44. The company has a current ratio of 0.96, a quick ratio of 0.58 and a debt-to-equity ratio of 1.88. Whirlpool has a 1 year low of $84.18 and a 1 year high of $129.30. The business’s 50-day simple moving average is $101.47 and its 200 day simple moving average is $98.88.

Whirlpool (NYSE:WHR) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.39 EPS for the quarter, hitting analysts’ consensus estimates of $2.39. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Whirlpool had a return on equity of 27.67% and a net margin of 2.89%. The firm’s revenue was down 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.21 EPS. On average, analysts forecast that Whirlpool will post 11.24 earnings per share for the current fiscal year.

Whirlpool Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Friday, November 15th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend is Friday, November 15th. Whirlpool’s payout ratio is 72.39%.

Analyst Ratings Changes

A number of research firms have weighed in on WHR. Bank of America initiated coverage on Whirlpool in a research note on Tuesday, July 30th. They set an “underperform” rating and a $88.00 price objective for the company. Royal Bank of Canada decreased their price target on Whirlpool from $79.00 to $76.00 and set an “underperform” rating for the company in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $103.75.

Insider Activity at Whirlpool

In other news, EVP Juan Carlos Puente sold 3,266 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $100.00, for a total transaction of $326,600.00. Following the completion of the transaction, the executive vice president now directly owns 19,070 shares of the company’s stock, valued at $1,907,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.05% of the stock is owned by company 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.