FY2019 Earnings Estimate for Newell Rubbermaid Inc. Issued By Gabelli (NWL)
Newell Rubbermaid Inc. (NYSE:NWL) – Investment analysts at Gabelli dropped their FY2019 earnings per share estimates for shares of Newell Rubbermaid in a research report issued to clients and investors on Thursday. Gabelli analyst Z. Bodini now forecasts that the brokerage will post earnings of $3.90 per share for the year, down from their prior forecast of $4.00. Gabelli also issued estimates for Newell Rubbermaid’s FY2020 earnings at $4.20 EPS.
Newell Rubbermaid (NYSE:NWL) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. Newell Rubbermaid had a return on equity of 18.55% and a net margin of 3.91%. The firm earned $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was up 147.2% compared to the same quarter last year.
Several other research analysts have also weighed in on NWL. Zacks Investment Research lowered Newell Rubbermaid from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Jefferies Group reissued a “buy” rating and issued a $59.00 price objective on shares of Newell Rubbermaid in a research report on Wednesday, June 29th. B. Riley reissued a “buy” rating and issued a $60.00 price objective on shares of Newell Rubbermaid in a research report on Monday, August 1st. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 price objective on shares of Newell Rubbermaid in a research report on Monday, August 1st. Finally, Deutsche Bank AG lifted their price objective on Newell Rubbermaid from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $57.50.
Shares of Newell Rubbermaid (NYSE:NWL) traded up 0.25% on Friday, reaching $52.25. The company had a trading volume of 2,889,146 shares. The stock has a 50-day moving average price of $52.10 and a 200-day moving average price of $49.25. Newell Rubbermaid has a 12 month low of $33.26 and a 12 month high of $55.45. The stock has a market cap of $25.19 billion, a PE ratio of 50.68 and a beta of 1.18.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.45%. Newell Rubbermaid’s payout ratio is presently 76.00%.
Several institutional investors have recently made changes to their positions in the company. Prudential PLC increased its position in shares of Newell Rubbermaid by 0.7% in the first quarter. Prudential PLC now owns 1,894,900 shares of the company’s stock worth $83,925,000 after buying an additional 13,827 shares during the last quarter. Geode Capital Management LLC boosted its stake in Newell Rubbermaid by 2.3% in the first quarter. Geode Capital Management LLC now owns 2,149,126 shares of the company’s stock worth $94,988,000 after buying an additional 47,310 shares during the period. Loomis Sayles & Co. L P bought a new stake in Newell Rubbermaid during the first quarter worth approximately $27,833,000. Primecap Management Co. CA boosted its stake in Newell Rubbermaid by 13.1% in the first quarter. Primecap Management Co. CA now owns 778,060 shares of the company’s stock worth $34,460,000 after buying an additional 90,000 shares during the period. Finally, Scotia Capital Inc. bought a new stake in Newell Rubbermaid during the first quarter worth approximately $498,000. Hedge funds and other institutional investors own 93.12% of the company’s stock.
About Newell Rubbermaid
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
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