Why Whirlpool Shares Broke Down This Week
Shares in domestic appliance company (NYSE: WHR) slumped by more than 16% in the week to Friday morning. The move comes after the company released its second-quarter earnings on Tuesday. The results surprised the market, but it's more surprising that the market was surprised.
After a first quarter where Asian competitors rushed to import products ahead of potential tariffs, it was no surprise to see the same again in the second quarter after President Donald Trump agreed to a 90-day pause on higher rates of tariffs in April so that negotiations could take place.
The pre-loading of products in the marketplace, combined with enduring weakness in the appliance market -- particularly in higher-margin discretionary appliances driven by existing home sales -- created intense promotional activity, which in turn led to Whirlpool's margins suffering accordingly in the second quarter.
Source Fool.com
Whirlpool Corp. Stock
Currently there is a rather negative sentiment for Whirlpool Corp. with 3 Buy predictions and 7 Sell predictions..
However, we have a potential of 6.14% for Whirlpool Corp. as the target price of 66 € is above the current price of 62.18 €.
