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 report issued 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.”
Several other research firms have also commented on WHR. MKM Partners raised their price objective on Whirlpool Corp. from $204.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, July 25th. Raymond James Financial Inc. lowered Whirlpool Corp. from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 25th. Bank of America Corp. reissued a “buy” rating and issued a $230.00 price objective on shares of Whirlpool Corp. in a research report on Wednesday, June 8th. Finally, Gabelli lowered Whirlpool Corp. from a “buy” rating to a “hold” rating in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $198.50.
Shares of Whirlpool Corp. (NYSE:WHR) opened at 162.16 on Thursday. The company has a 50 day moving average price of $173.21 and a 200-day moving average price of $176.75. Whirlpool Corp. has a 12 month low of $123.60 and a 12 month high of $194.10. The firm has a market capitalization of $12.23 billion, a PE ratio of 14.37 and a beta of 1.71.
Whirlpool Corp. (NYSE:WHR) last issued its earnings results on Friday, July 22nd. The company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.13. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.13 billion. Whirlpool Corp. had a return on equity of 18.68% and a net margin of 4.29%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted $2.70 EPS. Equities research analysts expect that Whirlpool Corp. will post $14.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, August 26th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $4.00 dividend on an annualized basis and a yield of 2.47%. Whirlpool Corp.’s dividend payout ratio (DPR) is 35.40%.
In related news, insider Joao Carlos Brega sold 14,166 shares of Whirlpool Corp. stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $193.43, for a total value of $2,740,129.38. Following the completion of the transaction, the insider now directly owns 29,043 shares in the company, valued at $5,617,787.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David T. Szczupak sold 10,307 shares of Whirlpool Corp. 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 completion of the transaction, 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 institutional investors have recently bought and sold shares of the company. FineMark National Bank & Trust increased its position in Whirlpool Corp. by 65.8% in the second quarter. FineMark National Bank & Trust now owns 645 shares of the company’s stock worth $108,000 after buying an additional 256 shares during the period. IFP Advisors Inc increased its position in Whirlpool Corp. by 6.2% in the first quarter. IFP Advisors Inc now owns 619 shares of the company’s stock worth $112,000 after buying an additional 36 shares during the period. Winslow Evans & Crocker Inc. increased its position in Whirlpool Corp. by 12.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 704 shares of the company’s stock worth $117,000 after buying an additional 76 shares during the period. Barnett & Company Inc. purchased a new position in Whirlpool Corp. during the first quarter worth approximately $126,000. Finally, First Manhattan Co. increased its position in Whirlpool Corp. by 80.0% in the second quarter. First Manhattan Co. now owns 810 shares of the company’s stock worth $134,000 after buying an additional 360 shares during the period. Institutional investors and hedge funds own 89.59% 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.
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