Brokers Issue Forecasts for Newell Rubbermaid Inc.’s FY2017 Earnings (NWL)
Newell Rubbermaid Inc. (NYSE:NWL) – Analysts at Jefferies Group decreased their FY2017 earnings per share estimates for Newell Rubbermaid in a report issued on Monday. Jefferies Group analyst K. Grundy now forecasts that the firm will earn $3.13 per share for the year, down from their previous forecast of $3.23. Jefferies Group currently has a “Buy” rating and a $66.00 target price on the stock. Jefferies Group also issued estimates for Newell Rubbermaid’s FY2018 earnings at $3.78 EPS.
Several other brokerages have also weighed in on NWL. Deutsche Bank AG increased their price objective on shares of Newell Rubbermaid from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Zacks Investment Research lowered shares of Newell Rubbermaid from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Citigroup Inc. reiterated a “buy” rating and set a $61.00 price objective on shares of Newell Rubbermaid in a report on Tuesday, August 2nd. B. Riley reiterated a “buy” rating and set a $60.00 price objective on shares of Newell Rubbermaid in a report on Monday, October 10th. Finally, Bank of America Corp. set a $60.00 price objective on shares of Newell Rubbermaid and gave the stock a “buy” rating in a report on Tuesday, October 4th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Newell Rubbermaid presently has a consensus rating of “Buy” and an average price target of $57.50.
Shares of Newell Rubbermaid (NYSE:NWL) traded down 0.028% during mid-day trading on Wednesday, hitting $52.665. 1,394,640 shares of the stock traded hands. The firm’s 50 day moving average price is $51.98 and its 200 day moving average price is $49.48. Newell Rubbermaid has a 12-month low of $33.26 and a 12-month high of $55.45. The firm has a market cap of $25.40 billion, a price-to-earnings ratio of 51.081 and a beta of 1.18.
Newell Rubbermaid (NYSE:NWL) last released its quarterly earnings results on Friday, July 29th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. Newell Rubbermaid had a net margin of 3.91% and a return on equity of 18.55%. The firm’s revenue was up 147.2% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share.
Several hedge funds have recently added to or reduced their stakes in the company. Ngam Advisors L.P. increased its stake in Newell Rubbermaid by 53.7% in the first quarter. Ngam Advisors L.P. now owns 32,071 shares of the company’s stock worth $1,421,000 after buying an additional 11,210 shares during the last quarter. ING Groep NV bought a new stake in Newell Rubbermaid during the first quarter worth $271,000. Aviva PLC increased its stake in Newell Rubbermaid by 3.6% in the first quarter. Aviva PLC now owns 137,247 shares of the company’s stock worth $6,079,000 after buying an additional 4,800 shares during the last quarter. Credit Agricole S A increased its stake in Newell Rubbermaid by 1.2% in the first quarter. Credit Agricole S A now owns 89,623 shares of the company’s stock worth $3,969,000 after buying an additional 1,096 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Newell Rubbermaid during the first quarter worth $24,785,000. 93.12% of the stock is owned by institutional investors and hedge funds.
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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