Newell Brands Inc. (NWL) Expected to Earn Q2 2017 Earnings of $0.77 Per Share
Newell Brands Inc. (NYSE:NWL) – Equities research analysts at KeyCorp raised their Q2 2017 earnings estimates for Newell Brands in a research report issued on Monday. KeyCorp analyst J. Gere now forecasts that the brokerage will post earnings of $0.77 per share for the quarter, up from their prior estimate of $0.73.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm earned $3.95 billion during the quarter, compared to analyst estimates of $4.06 billion. Newell Brands had a return on equity of 14.92% and a net margin of 3.51%. Newell Brands’s revenue was up 158.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS.
Several other brokerages have also issued reports on NWL. Citigroup Inc. reissued a “buy” rating and set a $61.00 price objective on shares of Newell Brands in a report on Tuesday, August 2nd. RBC Capital Markets restated a “buy” rating on shares of Newell Brands in a research note on Monday, August 1st. Zacks Investment Research downgraded shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. 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 note on Monday, August 1st. Finally, Royal Bank Of Canada restated a “top pick” rating and issued a $60.00 target price on shares of Newell Brands in a research note on Monday, August 1st. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Newell Brands currently has a consensus rating of “Buy” and a consensus price target of $58.75.
Shares of Newell Brands (NYSE:NWL) opened at 47.45 on Thursday. Newell Brands has a 1-year low of $33.26 and a 1-year high of $55.45. The stock has a market capitalization of $22.89 billion, a price-to-earnings ratio of 46.25 and a beta of 1.03. The stock has a 50 day moving average price of $50.87 and a 200 day moving average price of $50.10.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, November 28th. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. Newell Brands’s dividend payout ratio is presently 86.36%.
In other news, CEO Michael B. Polk acquired 7,500 shares of the business’s stock in a transaction on Monday, October 31st. The stock was bought at an average price of $49.68 per share, with a total value of $372,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael B. Polk acquired 4,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was purchased at an average cost of $47.82 per share, with a total value of $191,280.00. Following the acquisition, the chief executive officer now directly owns 338,169 shares of the company’s stock, valued at approximately $16,171,241.58. The disclosure for this purchase can be found here. Corporate insiders own 0.66% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Newell Brands 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 last quarter. National Pension Service boosted its position in Newell Brands by 4.4% in the first quarter. National Pension Service now owns 178,103 shares of the company’s stock worth $7,888,000 after buying an additional 7,568 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Newell Brands by 8.8% in the first quarter. Envestnet Asset Management Inc. now owns 41,459 shares of the company’s stock worth $1,836,000 after buying an additional 3,359 shares during the last quarter. Zions Bancorporation boosted its position in Newell Brands by 4,161.7% in the first quarter. Zions Bancorporation now owns 10,356 shares of the company’s stock worth $450,000 after buying an additional 10,113 shares during the last quarter. Finally, Brookside Capital Management LLC purchased a new position in Newell Brands during the first quarter worth $70,988,000. 93.02% of the stock is owned by institutional investors.
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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