Whirlpool Corp. (WHR) Stock Rating Lowered by Zacks Investment Research
Whirlpool Corp. (NYSE:WHR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Owing to significant global presence, Whirlpool remains prone to adverse foreign currency movements. In fact, the company’s second quarter top-line was hurt by these currency headwinds, which are expected to linger and hurt its results through the rest of the year. Further, the company is struggling due to weak emerging market demand, specifically in Brazil. Moreover, estimates have been trending downwards lately, ahead of the company’s third-quarter earnings release, though the company has a decent earnings surprise history. Further, 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 topic of a number of other research reports. Bank of America Corp. restated a “buy” rating on shares of Whirlpool Corp. in a research report on Wednesday, June 29th. Raymond James Financial Inc. downgraded Whirlpool Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, July 25th. Gabelli downgraded Whirlpool Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 12th. Finally, MKM Partners boosted their price objective on Whirlpool Corp. from $204.00 to $215.00 and gave the company a “buy” rating in a report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $198.50.
Shares of Whirlpool Corp. (NYSE:WHR) opened at 162.16 on Thursday. The firm has a 50-day moving average price of $173.21 and a 200-day moving average price of $176.75. The stock has a market capitalization of $12.23 billion, a PE ratio of 14.37 and a beta of 1.71. Whirlpool Corp. has a 1-year low of $123.60 and a 1-year high of $194.10.
Whirlpool Corp. (NYSE:WHR) last posted its earnings results on Friday, July 22nd. The company reported $3.50 EPS for the quarter, beating the Zacks’ consensus estimate of $3.37 by $0.13. Whirlpool Corp. had a return on equity of 18.68% and a net margin of 4.29%. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the previous year, the business earned $2.70 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts forecast that Whirlpool Corp. will post $14.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, August 26th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $4.00 annualized dividend and a yield of 2.47%. Whirlpool Corp.’s payout ratio is 35.40%.
In other news, insider Joao Carlos Brega sold 14,166 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $193.43, for a total transaction of $2,740,129.38. Following the completion of the transaction, the insider now directly owns 29,043 shares of the company’s stock, valued at approximately $5,617,787.49. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David T. Szczupak sold 10,307 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 4,807 shares of the company’s stock, valued at $871,653.31. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Whirlpool Corp. by 1.0% in the first quarter. Geode Capital Management LLC now owns 629,731 shares of the company’s stock valued at $113,334,000 after buying an additional 6,113 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in Whirlpool Corp. during the first quarter valued at about $889,000. CLS Investments LLC boosted its position in Whirlpool Corp. by 3.1% in the second quarter. CLS Investments LLC now owns 1,276 shares of the company’s stock valued at $213,000 after buying an additional 38 shares in the last quarter. Baker Ellis Asset Management LLC boosted its position in Whirlpool Corp. by 3.5% in the first quarter. Baker Ellis Asset Management LLC now owns 5,970 shares of the company’s stock valued at $1,077,000 after buying an additional 200 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in Whirlpool Corp. by 13.3% in the first quarter. Kennedy Capital Management Inc. now owns 54,354 shares of the company’s stock valued at $9,802,000 after buying an additional 6,384 shares in the last quarter. 89.59% of the stock is owned by institutional investors and hedge funds.
About Whirlpool Corp.
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.
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