JPMorgan Chase & Co. cut shares of Whirlpool (NYSE:WHR) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat reports.
A number of other brokerages also recently issued reports on WHR. Zacks Investment Research upgraded Whirlpool from a sell rating to a hold rating in a research report on Sunday, July 15th. Standpoint Research began coverage on Whirlpool in a research report on Tuesday, July 10th. They issued a buy rating on the stock. Longbow Research downgraded Whirlpool from a buy rating to a neutral rating and set a $185.00 price objective on the stock. in a research report on Tuesday, July 24th. Credit Suisse Group set a $175.00 price objective on Whirlpool and gave the stock a buy rating in a research report on Tuesday, July 24th. Finally, Royal Bank of Canada downgraded Whirlpool from an outperform rating to a sector perform rating in a research report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and an average price target of $171.88.
NYSE:WHR opened at $103.85 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 1.43. Whirlpool has a 1 year low of $102.85 and a 1 year high of $187.47. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 0.90 and a beta of 1.54.
Whirlpool (NYSE:WHR) last issued its quarterly earnings data on Monday, July 23rd. The company reported $3.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.63 by ($0.43). Whirlpool had a positive return on equity of 20.73% and a negative net margin of 2.62%. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the business posted $3.35 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. On average, analysts predict that Whirlpool will post 14.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, September 15th. Investors of record on Friday, August 31st were paid a $1.15 dividend. The ex-dividend date was Thursday, August 30th. This represents a $4.60 dividend on an annualized basis and a yield of 4.43%. Whirlpool’s dividend payout ratio is presently 33.48%.
In other news, Director Diane M. Dietz bought 1,600 shares of Whirlpool stock in a transaction that occurred on Thursday, July 26th. The shares were acquired at an average price of $124.26 per share, with a total value of $198,816.00. Following the completion of the purchase, the director now directly owns 8,339 shares in the company, valued at $1,036,204.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.83% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in Whirlpool by 88.1% in the first quarter. Assetmark Inc. now owns 713 shares of the company’s stock valued at $109,000 after acquiring an additional 334 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Whirlpool in the second quarter valued at $111,000. FNY Investment Advisers LLC bought a new position in Whirlpool in the second quarter valued at $123,000. Norway Savings Bank bought a new position in shares of Whirlpool during the second quarter valued at about $132,000. Finally, Ostrum Asset Management bought a new position in shares of Whirlpool during the first quarter valued at about $192,000. 93.15% of the stock is currently owned by institutional investors and hedge funds.
Whirlpool Company Profile
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 laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers, and other small domestic appliances.
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