Whirlpool (NYSE:WHR) Updates FY24 Earnings Guidance

Whirlpool (NYSE:WHR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of approx $12.00 for the period, compared to the consensus earnings per share estimate of $11.48. The company issued revenue guidance of approx $16.9 billion, compared to the consensus revenue estimate of $16.77 billion. Whirlpool also updated its FY 2024 guidance to 12.000-12.000 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WHR shares. Bank of America initiated coverage on shares of Whirlpool in a report on Tuesday, July 30th. They issued an “underperform” rating and a $88.00 target price on the stock. Royal Bank of Canada cut their target price on Whirlpool from $79.00 to $76.00 and set an “underperform” rating on the stock in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $103.75.

Whirlpool Price Performance

NYSE WHR traded down $3.01 on Wednesday, reaching $99.28. The company’s stock had a trading volume of 1,405,280 shares, compared to its average volume of 1,190,877. The firm’s 50 day moving average is $101.47 and its two-hundred day moving average is $98.88. The stock has a market cap of $5.45 billion, a PE ratio of 10.27 and a beta of 1.44. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.58 and a current ratio of 0.96. Whirlpool has a twelve month low of $84.18 and a twelve month high of $129.30.

Whirlpool (NYSE:WHR) last issued its earnings results on Wednesday, July 24th. The company reported $2.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.39. 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 analysts’ expectations of $3.96 billion. During the same period last year, the firm posted $4.21 earnings per share. The firm’s revenue for the quarter was down 16.8% compared to the same quarter last year. As a group, sell-side analysts predict that Whirlpool will post 11.24 EPS for the current year.

Whirlpool Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Friday, November 15th will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date is Friday, November 15th. Whirlpool’s payout ratio is 72.39%.

Insider Activity

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

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.