Whirlpool (NYSE:WHR) Shares Gap Up Following Better-Than-Expected Earnings

Whirlpool Co. (NYSE:WHR)’s stock price gapped up prior to trading 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 EPS for the quarter, beating the consensus estimate of $2.99 by $0.44. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.09 billion. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. Whirlpool’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.45 EPS.

Whirlpool Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Friday, November 15th will be given a $1.75 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $7.00 annualized dividend and a yield of 6.73%. Whirlpool’s dividend payout ratio (DPR) is presently 72.39%.

Analyst Upgrades and Downgrades

WHR has been the subject of several recent analyst reports. Bank of America boosted their price target on Whirlpool from $101.00 to $103.00 and gave the stock an “underperform” rating in a research note on Friday. Royal Bank of Canada decreased their target price on Whirlpool from $76.00 to $74.00 and set an “underperform” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $107.00.

Insider Activity

In related news, EVP Juan Carlos Puente sold 3,266 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 19,070 shares in the company, valued at approximately $1,907,000. This 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. Insiders own 2.05% of the company’s stock.

Institutional Trading of Whirlpool

Large investors have recently added to or reduced their stakes in the business. SouthState Corp bought a new position in Whirlpool in the second quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Whirlpool during the second quarter valued at $32,000. Altshuler Shaham Ltd bought a new stake in Whirlpool during the second quarter valued at about $32,000. EverSource Wealth Advisors LLC grew its holdings in Whirlpool by 1,010.5% during the second 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 period. Finally, UMB Bank n.a. increased its position in Whirlpool by 80.6% in the second quarter. UMB Bank n.a. now owns 428 shares of the company’s stock worth $44,000 after buying an additional 191 shares in the last quarter. 90.78% of the stock is currently owned by institutional investors.

Whirlpool Price Performance

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 market cap of $5.71 billion, a P/E ratio of 10.76 and a beta of 1.44. The firm has a 50 day moving average price of $102.00 and a 200 day moving average price of $98.88.

About Whirlpool

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.