Whirlpool (NYSE:WHR) Posts Quarterly Earnings Results, Beats Expectations By $0.39 EPS

Whirlpool (NYSE:WHR) announced its quarterly earnings results on Wednesday. The company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.04 by $0.39, Briefing.com reports. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Whirlpool had a return on equity of 27.67% and a net margin of 2.89%. The firm’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.45 EPS. Whirlpool updated its FY24 guidance to approx $12.00 EPS and its FY 2024 guidance to 12.000-12.000 EPS.

Whirlpool Stock Up 6.8 %

Shares of NYSE:WHR traded up $6.78 during mid-day trading on Thursday, reaching $106.06. 181,559 shares of the stock were exchanged, compared to its average volume of 1,185,987. The company has a quick ratio of 0.58, a current ratio of 0.96 and a debt-to-equity ratio of 1.88. The company has a market cap of $5.82 billion, a P/E ratio of 10.27 and a beta of 1.44. Whirlpool has a one year low of $84.18 and a one year high of $127.58. The stock’s 50 day simple moving average is $101.56 and its 200-day simple moving average is $98.89.

Whirlpool Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Friday, November 15th will be issued a dividend of $1.75 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 6.60%. Whirlpool’s payout ratio is presently 72.39%.

Insider Buying and Selling

In related news, EVP Juan Carlos Puente sold 3,266 shares of the stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America initiated coverage on Whirlpool in a research note on Tuesday, July 30th. They issued an “underperform” rating and a $88.00 price target for the company. Royal Bank of Canada reduced their target price on Whirlpool from $79.00 to $76.00 and set an “underperform” rating for the company in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Whirlpool has an average rating of “Hold” and a consensus target price of $103.75.

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.