FY2016 Earnings Forecast for Newell Brands Inc. Issued By KeyCorp (NWL)
Newell Brands Inc. (NYSE:NWL) – Analysts at KeyCorp reduced their FY2016 EPS estimates for Newell Brands in a research report issued to clients and investors on Monday. KeyCorp analyst J. Gere now anticipates that the firm will post earnings per share of $2.85 for the year, down from their prior forecast of $2.88. KeyCorp also issued estimates for Newell Brands’ Q4 2016 earnings at $0.77 EPS, Q1 2017 earnings at $0.34 EPS and Q3 2017 earnings at $0.89 EPS.
Newell Brands (NYSE:NWL) last posted its earnings results on Friday, October 28th. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Newell Brands had a net margin of 3.51% and a return on equity of 14.92%. The firm’s revenue for the quarter was up 158.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share.
A number of other research firms also recently weighed in on NWL. Deutsche Bank AG raised their target price on shares of Newell Brands from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Jefferies Group reiterated a “top pick” rating and issued a $66.00 price target on shares of Newell Brands in a research note on Wednesday, September 14th. Zacks Investment Research cut shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Citigroup Inc. reiterated a “buy” rating and issued a $61.00 price target on shares of Newell Brands in a research note on Tuesday, August 2nd. Finally, B. Riley reiterated a “buy” rating and issued a $60.00 price target on shares of Newell Brands in a research note on Monday, October 10th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $58.75.
Shares of Newell Brands (NYSE:NWL) opened at 47.66 on Wednesday. The company has a 50-day moving average of $51.00 and a 200-day moving average of $50.07. Newell Brands has a 1-year low of $33.26 and a 1-year high of $55.45. The company has a market cap of $23.07 billion, a PE ratio of 46.45 and a beta of 1.03.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, November 28th. Newell Brands’s dividend payout ratio is presently 86.36%.
In other Newell Brands news, CEO Michael B. Polk acquired 4,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was acquired at an average price of $47.82 per share, for a total transaction of $191,280.00. Following the purchase, the chief executive officer now directly owns 338,169 shares of the company’s stock, valued at $16,171,241.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Mark Tarchetti acquired 12,436 shares of the company’s stock in a transaction on Monday, October 31st. The stock was acquired at an average price of $48.15 per share, with a total value of $598,793.40. Following the purchase, the president now directly owns 188,995 shares in the company, valued at $9,100,109.25. The disclosure for this purchase can be found here. Insiders own 0.66% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in shares of Newell Brands by 66.6% in the second quarter. Quadrant Capital Group LLC now owns 2,467 shares of the company’s stock valued at $116,000 after buying an additional 986 shares during the period. Seven Bridges Advisors LLC acquired a new stake in shares of Newell Brands during the second quarter valued at $137,000. Parkside Financial Bank & Trust boosted its stake in shares of Newell Brands by 13.2% in the second quarter. Parkside Financial Bank & Trust now owns 2,837 shares of the company’s stock valued at $138,000 after buying an additional 330 shares during the period. Global X Management Co. LLC boosted its stake in shares of Newell Brands by 105.8% in the third quarter. Global X Management Co. LLC now owns 2,677 shares of the company’s stock valued at $141,000 after buying an additional 1,376 shares during the period. Finally, FineMark National Bank & Trust acquired a new stake in shares of Newell Brands during the second quarter valued at $146,000. Institutional investors and hedge funds own 93.02% of the company’s stock.
About Newell Brands
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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