Whirlpool (NYSE:WHR) Shares Gap Up on Strong Earnings

Whirlpool Co. (NYSE:WHR - Get Free Report)'s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. 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 trading hands.

The company reported $3.43 EPS for the quarter, topping analysts' consensus estimates of $3.04 by $0.39. Whirlpool had a net margin of 2.89% and a return on equity of 27.67%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the business earned $5.45 EPS. The business's quarterly revenue was down 18.9% compared to the same quarter last year.

Whirlpool Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Friday, November 15th will be given a dividend of $1.75 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 6.34%. Whirlpool's dividend payout ratio is 72.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Whirlpool in a research report on Tuesday, July 30th. They set an "underperform" rating and a $88.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of Whirlpool from $79.00 to $76.00 and set an "underperform" rating on the stock in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $103.75.

Insider Activity at Whirlpool

In related news, EVP Juan Carlos Puente sold 3,266 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $100.00, for a total value of $326,600.00. Following the sale, the executive vice president now directly owns 19,070 shares of the company's stock, valued at approximately $1,907,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Whirlpool

Several institutional investors have recently added to or reduced their stakes in the stock. SouthState Corp bought a new stake in Whirlpool during the 2nd quarter worth about $28,000. Altshuler Shaham Ltd bought a new stake in Whirlpool during the 2nd quarter worth about $32,000. Ashton Thomas Private Wealth LLC bought a new stake in Whirlpool during the 2nd quarter worth about $32,000. EverSource Wealth Advisors LLC lifted its position in Whirlpool by 1,010.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 422 shares of the company's stock worth $43,000 after buying an additional 384 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Whirlpool by 80.6% during the 2nd 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 owned by institutional investors.

Whirlpool Stock Up 11.1 %

The firm's 50-day simple moving average is $101.86 and its 200 day simple moving average is $98.97. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.58 and a current ratio of 0.96. The stock has a market capitalization of $6.06 billion, a P/E ratio of 11.41 and a beta of 1.44.

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.