Whirlpool (NYSE:WHR) Shares Gap Up After Earnings Beat

Whirlpool Co. (NYSE:WHR) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $99.28, but opened at $106.04. Whirlpool shares last traded at $108.81, with a volume of 586,560 shares traded.

The company reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.39. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.09 billion. Whirlpool had a return on equity of 27.67% and a net margin of 2.89%. The business’s revenue was down 18.9% compared to the same quarter last year. During the same period in the prior year, the company posted $5.45 EPS.

Whirlpool Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend is Friday, November 15th. Whirlpool’s dividend payout ratio (DPR) is presently 72.39%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WHR. Royal Bank of Canada cut their price target on Whirlpool from $79.00 to $76.00 and set an “underperform” rating for the company in a research note on Friday, July 26th. Bank of America began coverage on Whirlpool in a report on Tuesday, July 30th. They set an “underperform” rating and a $88.00 price objective on the stock. Two investment 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. According to MarketBeat.com, Whirlpool has a consensus rating of “Hold” and a consensus price target of $103.75.

Insiders Place Their Bets

In other Whirlpool news, EVP Juan Carlos Puente sold 3,266 shares of the firm’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.05% of the company’s stock.

Hedge Funds Weigh In On Whirlpool

Hedge funds and other institutional investors have recently modified their holdings of the stock. SouthState Corp bought a new position in shares of Whirlpool during the 2nd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Whirlpool during the 2nd quarter worth approximately $32,000. Altshuler Shaham Ltd bought a new position in Whirlpool in the 2nd quarter valued at $32,000. EverSource Wealth Advisors LLC raised its position in Whirlpool by 1,010.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 422 shares of the company’s stock valued at $43,000 after purchasing an additional 384 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Whirlpool by 80.6% in the 2nd quarter. UMB Bank n.a. now owns 428 shares of the company’s stock valued at $44,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 90.78% of the company’s stock.

Whirlpool Trading Up 10.2 %

The company has a 50-day simple moving average of $101.56 and a 200-day simple moving average of $98.89. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.58 and a current ratio of 0.96. The stock has a market cap of $6.00 billion, a P/E ratio of 11.00 and a beta of 1.44.

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.