Royal Bank of Canada Trims Whirlpool (NYSE:WHR) Target Price to $79.00

Whirlpool (NYSE:WHR) had its target price decreased by Royal Bank of Canada from $85.00 to $79.00 in a research note released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an underperform rating on the stock.

WHR has been the topic of several other reports. Loop Capital initiated coverage on shares of Whirlpool in a report on Thursday, February 22nd. They issued a buy rating and a $140.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on Whirlpool from $120.00 to $111.00 and set a neutral rating on the stock in a report on Friday, February 2nd. StockNews.com raised Whirlpool from a hold rating to a buy rating in a research note on Tuesday, February 27th. Finally, TheStreet upgraded Whirlpool from a d+ rating to a c+ rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $113.40.

Whirlpool Stock Down 0.4 %

WHR stock opened at $94.60 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.57 and a debt-to-equity ratio of 2.56. The firm has a 50-day moving average of $109.14 and a two-hundred day moving average of $112.79. Whirlpool has a 12 month low of $91.90 and a 12 month high of $160.62. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 13.03 and a beta of 1.48.

Whirlpool (NYSE:WHR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.61 by $0.17. Whirlpool had a return on equity of 35.16% and a net margin of 2.07%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the firm earned $2.66 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, analysts forecast that Whirlpool will post 13.4 earnings per share for the current fiscal year.

Whirlpool Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 7.40%. The ex-dividend date is Thursday, May 16th. Whirlpool’s dividend payout ratio (DPR) is 96.42%.

Hedge Funds Weigh In On Whirlpool

A number of hedge funds and other institutional investors have recently bought and sold shares of WHR. Securian Asset Management Inc. increased its holdings in shares of Whirlpool by 30.5% in the 1st quarter. Securian Asset Management Inc. now owns 4,523 shares of the company’s stock valued at $541,000 after acquiring an additional 1,058 shares during the last quarter. Yousif Capital Management LLC raised its holdings in Whirlpool by 159.5% during the first quarter. Yousif Capital Management LLC now owns 27,443 shares of the company’s stock worth $3,283,000 after purchasing an additional 16,869 shares in the last quarter. Verdence Capital Advisors LLC purchased a new stake in shares of Whirlpool during the 1st quarter worth approximately $342,000. New York State Teachers Retirement System boosted its holdings in shares of Whirlpool by 2.3% in the 1st quarter. New York State Teachers Retirement System now owns 55,259 shares of the company’s stock valued at $6,611,000 after buying an additional 1,234 shares in the last quarter. Finally, LHM Inc. grew its position in shares of Whirlpool by 496.3% in the 1st quarter. LHM Inc. now owns 20,310 shares of the company’s stock valued at $2,430,000 after buying an additional 16,904 shares during the last quarter. 90.78% of the stock is currently owned by hedge funds and other institutional investors.

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.