Whirlpool (NYSE:WHR) Shares Gap Down on Disappointing Earnings

Whirlpool Corporation (NYSE:WHR) shares gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $97.91, but opened at $85.51. Whirlpool shares last traded at $86.65, with a volume of 3,001,749 shares traded.

The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.20). The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.88 billion. Whirlpool had a positive return on equity of 20.81% and a negative net margin of 0.95%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.39 earnings per share.

Analysts Set New Price Targets

Several research analysts have weighed in on WHR shares. Longbow Research upgraded shares of Whirlpool from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Monday, June 30th. Bank of America reiterated an “underperform” rating and issued a $70.00 price objective (down previously from $100.00) on shares of Whirlpool in a research note on Tuesday. Wall Street Zen lowered shares of Whirlpool from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Royal Bank Of Canada dropped their price objective on shares of Whirlpool from $65.00 to $63.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Whirlpool from $109.00 to $89.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.00.

Institutional Trading of Whirlpool

Institutional investors and hedge funds have recently modified their holdings of the company. Nemes Rush Group LLC lifted its stake in shares of Whirlpool by 79.1% in the fourth quarter. Nemes Rush Group LLC now owns 274 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Whirlpool by 120.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 320 shares of the company’s stock worth $37,000 after buying an additional 175 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Whirlpool in the first quarter worth $36,000. Ransom Advisory Ltd acquired a new stake in shares of Whirlpool in the first quarter worth $38,000. Finally, UMB Bank n.a. lifted its stake in shares of Whirlpool by 40.4% in the first quarter. UMB Bank n.a. now owns 448 shares of the company’s stock worth $40,000 after buying an additional 129 shares during the last quarter. 90.78% of the stock is currently owned by institutional investors and hedge funds.

Whirlpool Price Performance

The stock’s 50 day moving average price is $93.08 and its two-hundred day moving average price is $94.49. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.85 and a quick ratio of 0.40. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of -31.66 and a beta of 1.25.

Whirlpool Company Profile

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.