Whirlpool (NYSE:WHR) Given New $79.00 Price Target at Royal Bank of Canada

Whirlpool (NYSE:WHR) had its price objective lowered by Royal Bank of Canada from $85.00 to $79.00 in a report published on Friday, Benzinga reports. The firm currently has an underperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Whirlpool from a hold rating to a buy rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Whirlpool from $120.00 to $111.00 and set a neutral rating on the stock in a research report on Friday, February 2nd. TheStreet raised Whirlpool from a d+ rating to a c+ rating in a research note on Monday, January 29th. Finally, Loop Capital started coverage on Whirlpool in a research note on Thursday, February 22nd. They issued a buy rating and a $140.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $113.40.

Whirlpool Stock Performance

WHR opened at $96.86 on Friday. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 13.34 and a beta of 1.48. Whirlpool has a fifty-two week low of $91.90 and a fifty-two week high of $160.62. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.58 and a current ratio of 0.95. The company has a fifty day moving average of $108.92 and a 200 day moving average of $112.38.

Whirlpool (NYSE:WHR) last issued its earnings results on Wednesday, April 24th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.17. Whirlpool had a return on equity of 35.16% and a net margin of 2.07%. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the firm posted $2.66 earnings per share. The business’s revenue was down 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Whirlpool will post 13.3 earnings per share for the current fiscal year.

Whirlpool Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Friday, May 17th 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 7.23%. The ex-dividend date is Thursday, May 16th. Whirlpool’s dividend payout ratio is currently 96.42%.

Hedge Funds Weigh In On Whirlpool

Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its stake in shares of Whirlpool by 19.6% during the third quarter. Envestnet Asset Management Inc. now owns 90,465 shares of the company’s stock valued at $12,095,000 after purchasing an additional 14,851 shares during the period. IFG Advisory LLC boosted its holdings in shares of Whirlpool by 5.6% in the fourth quarter. IFG Advisory LLC now owns 2,737 shares of the company’s stock valued at $333,000 after purchasing an additional 146 shares during the period. Gilman Hill Asset Management LLC grew its stake in Whirlpool by 47.0% in the fourth quarter. Gilman Hill Asset Management LLC now owns 79,926 shares of the company’s stock worth $9,733,000 after purchasing an additional 25,541 shares in the last quarter. Capital Advisors Inc. OK purchased a new position in Whirlpool during the 4th quarter worth $6,373,000. Finally, Deutsche Bank AG raised its position in Whirlpool by 4.7% during the 3rd quarter. Deutsche Bank AG now owns 428,220 shares of the company’s stock valued at $57,253,000 after purchasing an additional 19,036 shares in the last quarter. Institutional investors own 90.78% of the company’s stock.

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.