Whirlpool (NYSE:WHR) Issues Quarterly Earnings Results

Whirlpool (NYSE:WHR) released its earnings results on Wednesday. The company reported $3.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.99 billion for 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 company’s quarterly revenue was down 18.9% on a year-over-year basis. Whirlpool updated its FY24 guidance to approx $12.00 EPS and its FY 2024 guidance to 12.000-12.000 EPS.

Whirlpool Stock Performance

Shares of NYSE WHR traded down $6.30 during mid-day trading on Friday, hitting $104.07. The company had a trading volume of 1,546,927 shares, compared to its average volume of 1,201,430. 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 $125.68. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 10.76 and a beta of 1.44. The stock’s 50-day moving average price is $102.00 and its 200-day moving average price is $98.88.

Whirlpool Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Friday, November 15th will be given a dividend of $1.75 per share. The ex-dividend date is Friday, November 15th. This represents a $7.00 annualized dividend and a dividend yield of 6.73%. Whirlpool’s dividend payout ratio is currently 72.39%.

Insider Buying and Selling

In other news, EVP Juan Carlos Puente sold 3,266 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 19,070 shares in the company, valued at approximately $1,907,000. This trade represents a 0.00 % decrease in their ownership of the stock. 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WHR shares. Royal Bank of Canada reduced their price objective on Whirlpool from $76.00 to $74.00 and set an “underperform” rating for the company in a report on Friday. Bank of America increased their price target on Whirlpool from $101.00 to $103.00 and gave the stock an “underperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.00.

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.