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J.P. Morgan Maintains Whirlpool(WHR.US) With Hold Rating, Announces Target Price $109

Futu News ·  Oct 29 18:33  · Ratings

J.P. Morgan analyst Michael Rehaut maintains $Whirlpool (WHR.US)$ with a hold rating, and sets the target price at $109.

According to TipRanks data, the analyst has a success rate of 55.2% and a total average return of 5.5% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Whirlpool (WHR.US)$'s main analysts recently are as follows:

  • Following Whirlpool's Q3 report, the company reaffirmed its 2024 guidance on a number of important financial indicators such as sales, margins, free cash flow, and operating earnings. This reiteration comes despite a greater tax advantage being essentially balanced out by the negative impacts in Europe, the Middle East, and Africa, along with continued dampening of demand in North America.

  • Whirlpool's Q3 adjusted EPS of $3.43 exceeded expectations, primarily due to a lower tax rate, while the company reaffirmed its 2024 revenue outlook of around $16.9B, an adjusted EBIT margin of about 6.0%, and an adjusted EPS of approximately $12. Subsequent to the announcement, projections for the 2024 adjusted EPS were increased by 17% to account for the reduced tax rate, which contributes an additional $1.30 over previous estimates. However, expectations for the 2025 adjusted EPS were slightly reduced by 3%.

  • Following Whirlpool's Q3 results, the company's North America margins showed a slight improvement, bolstered by cost reductions. However, the ongoing loss of market share, subdued pricing and promotional activities, and the ambitious ramp required to meet the sales and margin guidance are points of concern.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

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