Zacks Investment Research upgraded shares of Whirlpool Corp. (NYSE:WHR) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Whirlpool delivered a dismal third-quarter 2016 as both top and bottom lines missed estimates. While earnings continued to gain from the company’s solid brands portfolio, product innovation and constant focus on cost productivity, the lingering currency headwinds and weak appliance demand in the U.S. and U.K. played spoilsport. Additionally, Whirlpool lowered its adjusted earnings per share forecasts for 2016 based on the aforementioned factors as well as the further devaluation of British Pound. Also, currency headwinds are expected to linger and hurt its results through the rest of the year. However, Whirlpool’s solid integration and cost-productivity activities are expected to enhance its performance. The company’s innovation strategy that helps it to tap additional sales and gain market share, also bodes well. Constant dividend payments and share buybacks further reflect its ability to grow earnings and cash flows.”
WHR has been the subject of a number of other research reports. Gabelli cut Whirlpool Corp. from a buy rating to a hold rating in a report on Monday, September 12th. MKM Partners boosted their price objective on Whirlpool Corp. from $204.00 to $215.00 and gave the stock a buy rating in a report on Monday, July 25th. Raymond James Financial Inc. upgraded Whirlpool Corp. from a market perform rating to a strong-buy rating and set a $185.00 price objective for the company in a report on Monday, July 25th. Finally, Bank of America Corp. restated a buy rating on shares of Whirlpool Corp. in a report on Wednesday, June 29th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Whirlpool Corp. has an average rating of Buy and an average target price of $189.86.
Shares of Whirlpool Corp. (NYSE:WHR) opened at 150.82 on Wednesday. The firm has a market capitalization of $11.33 billion, a PE ratio of 13.19 and a beta of 1.61. The company’s 50-day moving average price is $162.05 and its 200-day moving average price is $174.27. Whirlpool Corp. has a 12-month low of $123.60 and a 12-month high of $194.10.
Whirlpool Corp. (NYSE:WHR) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $3.66 earnings per share for the quarter, missing analysts’ consensus estimates of $3.88 by $0.22. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Whirlpool Corp. had a return on equity of 18.64% and a net margin of 4.31%. Whirlpool Corp.’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm earned $3.45 EPS. Analysts anticipate that Whirlpool Corp. will post $14.17 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 18th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, November 16th. Whirlpool Corp.’s dividend payout ratio (DPR) is currently 34.93%.
In other Whirlpool Corp. news, Chairman Jeff M. Fettig sold 91,000 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $189.42, for a total transaction of $17,237,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David T. Szczupak sold 10,307 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $181.33, for a total value of $1,868,968.31. Following the sale, the insider now owns 4,807 shares of the company’s stock, valued at $871,653.31. The disclosure for this sale can be found here. 2.62% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in WHR. Envestnet Asset Management Inc. boosted its stake in Whirlpool Corp. by 18.7% in the first quarter. Envestnet Asset Management Inc. now owns 6,630 shares of the company’s stock valued at $1,196,000 after buying an additional 1,045 shares during the last quarter. Legal & General Group Plc increased its position in shares of Whirlpool Corp. by 1.7% in the first quarter. Legal & General Group Plc now owns 362,272 shares of the company’s stock valued at $65,324,000 after buying an additional 6,037 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Whirlpool Corp. by 50.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 130,686 shares of the company’s stock valued at $23,568,000 after buying an additional 43,826 shares during the period. National Pension Service increased its position in shares of Whirlpool Corp. by 4.5% in the first quarter. National Pension Service now owns 50,195 shares of the company’s stock valued at $9,052,000 after buying an additional 2,158 shares during the period. Finally, AMP Capital Investors Ltd increased its position in shares of Whirlpool Corp. by 38.5% in the first quarter. AMP Capital Investors Ltd now owns 36,387 shares of the company’s stock valued at $6,454,000 after buying an additional 10,118 shares during the period. Hedge funds and other institutional investors own 89.55% of the company’s stock.
Whirlpool Corp. Company Profile
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company manufactures products in approximately 15 countries and markets products around the world under brand names, such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air and Indesit. The Company’s segments include North America, Latin America, EMEA (Europe, Middle East and Africa) and Asia.