Zacks: Analysts Forecast Whirlpool Co. (NYSE: WHR) to Post Quarterly Sales of $5.38 Billion
Brokers expect Whirlpool Co. (NYSE:WHR – Get a rating) to announce sales of $5.38 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts provided earnings estimates for Whirlpool, with the lowest sales estimate at $5.28 billion and the highest estimate at $5.55 billion. Whirlpool posted sales of $5.32 billion in the same quarter last year, which would indicate a positive growth rate of 1.1% year over year. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Whirlpool to report annual sales of $22.14 billion for the current fiscal year, with estimates ranging from $21.77 billion to $22.44 billion. For the next fiscal year, analysts expect the company to record sales of $22.71 billion, with estimates ranging from $22.29 billion to $23.07 billion. Zacks sales averages are an average average based on a survey of sell-side analysts who cover Whirlpool.
Whirlpool (NYSE: WHR – Get a rating) last released its quarterly results on Monday, April 25. The company reported EPS of $5.31 for the quarter, beating the consensus estimate of $4.79 by $0.52. Whirlpool had a net margin of 7.72% and a return on equity of 30.56%. The company posted revenue of $4.92 billion in the quarter, versus analyst estimates of $5.30 billion. In the same quarter a year earlier, the company posted earnings of $7.20 per share. Whirlpool’s revenue for the quarter was down 8.2% from the same quarter last year.
Several equity research analysts have commented on the company. JPMorgan Chase & Co. lowered its price target on Whirlpool from $221.00 to $205.00 and set an “overweight” rating for the company in a Wednesday, April 20 research note. Credit Suisse Group took over Whirlpool’s coverage in a Tuesday, April 5 research note. They set a “neutral” rating and a price target of $180.00 for the company. Goldman Sachs Group lowered its price target on Whirlpool from $280.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, April 12. Royal Bank of Canada raised its target price on Whirlpool from $190.00 to $195.00 in a Friday, January 28 research report. To finish, Zacks Investment Research downgraded Whirlpool from a “buy” rating to a “hold” rating and set a target price of $198.00 for the business. in a Wednesday, March 30 research report. Two equity research analysts gave the stock a sell rating, four gave the company a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $202.57.
In other Whirlpool news, manager Gary T. Dicamillo sold 1,000 shares in a trade that took place on Tuesday, February 1. The stock was sold at an average price of $209.90, for a total transaction of $209,900.00. The transaction was disclosed in an SEC filing, available at this link. Insiders of the company own 1.33% of the shares of the company.
Several institutional investors have recently changed their positions in WHR. Amundi Pioneer Asset Management Inc. increased its position in Whirlpool shares by 255.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 131,570 shares of the company worth $17,483,000 after purchasing an additional 94,587 shares during the period. Morgan Stanley increased its position in Whirlpool shares by 15.4% during the second quarter. Morgan Stanley now owns 416,174 shares of the company worth $90,736,000 after purchasing an additional 55,658 shares during the period. Raymond James & Associates increased its position in Whirlpool shares by 4.4% during the third quarter. Raymond James & Associates now owns 60,094 shares of the company worth $12,251,000 after purchasing an additional 2,515 shares during the period. The North Carolina state treasurer increased its position in Whirlpool by 3.5% in Q3. The North Carolina State Treasurer now owns 22,071 shares of the company valued at $4,499,000 after acquiring an additional 739 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Whirlpool by 15.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,472 shares of the company valued at $5,600,000 after acquiring an additional 3,581 shares during the period. Institutional investors and hedge funds hold 94.94% of the company’s shares.
Whirlpool shares opened at $181.52 on Monday. The company’s fifty-day moving average price is $185.21 and its 200-day moving average price is $206.81. Whirlpool has a 12-month low of $164.52 and a 12-month high of $257.68. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt ratio of 0.98. The stock has a market capitalization of $10.20 billion, a P/E ratio of 6.75, a PEG ratio of 1.22 and a beta of 1.71.
Whirlpool said its board approved a stock repurchase program on Monday, Feb. 14 that allows the company to repurchase $2.00 billion of outstanding stock. This repurchase authorization allows the company to acquire up to 16.8% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Friday, May 20 will receive a dividend of $1.75 per share. This represents a dividend of $7.00 on an annualized basis and a yield of 3.86%. The ex-dividend date is Thursday, May 19. Whirlpool’s dividend payout ratio is currently 26.03%.
Whirlpool Company Profile (Get a 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 main products include refrigerators, freezers, ice makers and refrigerator water filters; laundry apparatus and related laundry accessories; kitchen and other small appliances; and dishwashers and related accessories, as well as mixers.
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