Here's Why Whirlpool Stock Got Hammered This Week
Shares of home-appliance company (NYSE: WHR) got hammered this week after management offered up disappointing guidance that caused Wall Street to reset its expectations for the business. As of 10 a.m. ET Friday, Whirlpool stock was down a whopping 22% for the week, dipping to its second-lowest point this decade.
Whirlpool reported third-quarter results on Wednesday, and it beat expectations on both the top and bottom lines. Net sales were up 3% year over year, and earnings per share (EPS) were only down 1%. In isolation, those numbers don't look bad.
However, Whirlpool's profit guidance took a big hit. The company maintained its full-year net sales guidance of $19.4 billion. But it lowered its earnings guidance to $9 per share, down from a previous range of $13 per share to $15 per share. Moreover, it lowered its free-cash-flow guidance from $800 million before to just $500 million now -- a 38% reduction.
Source Fool.com
Whirlpool Corp. Stock
With 3 Buy predictions and 3 Sell predictions the community is currently undecided on Whirlpool Corp..
A slightly negative potential of -3.33% at a current price of 90.0 € for Whirlpool Corp. is the result of a target price of 87 €.
