Whirlpool Co. (NYSE:WHR – Get Rating) – Equities research analysts at KeyCorp reduced their Q2 2022 earnings per share estimates for shares of Whirlpool in a report issued on Tuesday, April 26th. KeyCorp analyst K. Zener now expects that the company will post earnings of $5.31 per share for the quarter, down from their prior estimate of $6.46. KeyCorp also issued estimates for Whirlpool’s Q3 2022 earnings at $7.09 EPS, FY2022 earnings at $25.00 EPS and FY2023 earnings at $24.61 EPS.
Several other research analysts have also weighed in on the stock. Cfra lowered shares of Whirlpool to a “sell” rating and set a $180.00 price objective on the stock. in a research note on Friday, April 8th. JPMorgan Chase & Co. dropped their price target on shares of Whirlpool from $221.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 20th. The Goldman Sachs Group reduced their price objective on shares of Whirlpool from $280.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. Credit Suisse Group initiated coverage on shares of Whirlpool in a report on Tuesday, April 5th. They set a “neutral” rating and a $180.00 price objective for the company. Finally, StockNews.com assumed coverage on shares of Whirlpool in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $202.57.
Whirlpool (NYSE:WHR – Get Rating) last posted its quarterly earnings results on Monday, April 25th. The company reported $5.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.79 by $0.52. The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Whirlpool had a return on equity of 32.84% and a net margin of 8.11%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.20 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Friday, May 20th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, May 19th. Whirlpool’s dividend payout ratio is presently 24.67%.
Whirlpool announced that its board has authorized a share repurchase program on Monday, February 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 16.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Gary T. Dicamillo sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $209.90, for a total value of $209,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.33% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Whirlpool by 2.1% in the 4th quarter. BlackRock Inc. now owns 5,065,502 shares of the company’s stock worth $1,188,671,000 after acquiring an additional 106,185 shares during the period. State Street Corp boosted its position in Whirlpool by 4.5% during the 4th quarter. State Street Corp now owns 3,074,763 shares of the company’s stock worth $721,524,000 after acquiring an additional 132,954 shares during the period. Greenhaven Associates Inc. raised its stake in shares of Whirlpool by 2.4% during the 4th quarter. Greenhaven Associates Inc. now owns 2,834,525 shares of the company’s stock worth $665,150,000 after purchasing an additional 65,605 shares in the last quarter. Capital International Investors raised its stake in shares of Whirlpool by 10.4% in the 4th quarter. Capital International Investors now owns 2,144,170 shares of the company’s stock valued at $503,151,000 after acquiring an additional 202,346 shares in the last quarter. Finally, Boston Partners increased its position in Whirlpool by 17.0% in the 4th quarter. Boston Partners now owns 1,759,577 shares of the company’s stock worth $412,897,000 after buying an additional 255,063 shares during the period. Institutional investors own 94.94% of the company’s stock.
About Whirlpool (Get Rating)
Whirlpool Corporation manufactures and markets home appliances and related products. It operates through four segments: North America; Europe, Middle East and Africa; Latin America; and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.
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