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

Whirlpool (NYSE:WHR) posted its quarterly earnings data on Wednesday. The company reported $3.43 EPS for the quarter, topping the consensus estimate of $3.04 by $0.39, Briefing.com reports. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period in the previous year, the firm earned $5.45 earnings per share. Whirlpool’s quarterly revenue was down 18.9% compared to the same quarter last year. 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 WHR traded up $12.40 during mid-day trading on Thursday, reaching $111.68. The company had a trading volume of 1,059,819 shares, compared to its average volume of 1,189,070. The stock has a market capitalization of $6.13 billion, a P/E ratio of 11.00 and a beta of 1.44. 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 stock has a 50 day moving average of $101.56 and a two-hundred day moving average of $98.89. Whirlpool has a 52-week low of $84.18 and a 52-week high of $127.58.

Whirlpool Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Friday, November 15th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, November 15th. Whirlpool’s dividend payout ratio (DPR) is currently 72.39%.

Insider Buying and Selling at Whirlpool

In other news, EVP Juan Carlos Puente sold 3,266 shares of the firm’s 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 sale, the executive vice president now directly owns 19,070 shares in the company, valued at $1,907,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada dropped their price target on shares of 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 initiated coverage on shares of Whirlpool in a report on Tuesday, July 30th. They issued an “underperform” rating and a $88.00 target price for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Whirlpool has a consensus rating of “Hold” and a consensus price target 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.