Neenah Paper Inc. (NP) to Post FY2016 Earnings of $4.25 Per Share, DA Davidson Forecasts
Neenah Paper Inc. (NYSE:NP) – Equities researchers at DA Davidson lowered their FY2016 earnings estimates for shares of Neenah Paper in a report issued on Thursday. DA Davidson analyst S. Chercover now forecasts that the brokerage will post earnings per share of $4.25 for the year, down from their previous forecast of $4.51. DA Davidson has a “Hold” rating and a $78.00 price target on the stock. DA Davidson also issued estimates for Neenah Paper’s Q4 2016 earnings at $0.85 EPS and FY2017 earnings at $4.43 EPS.
Separately, Zacks Investment Research upgraded shares of Neenah Paper from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, August 9th.
Shares of Neenah Paper (NYSE:NP) opened at 82.05 on Monday. The firm has a market cap of $1.37 billion, a P/E ratio of 20.60 and a beta of 1.45. Neenah Paper has a one year low of $52.70 and a one year high of $82.24. The stock’s 50 day moving average is $79.44 and its 200-day moving average is $74.83.
Neenah Paper (NYSE:NP) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.99 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.99. The business earned $232.90 million during the quarter, compared to the consensus estimate of $243.15 million. Neenah Paper had a net margin of 7.12% and a return on equity of 22.20%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 EPS.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of Neenah Paper by 8.7% in the third quarter. BlackRock Fund Advisors now owns 1,158,338 shares of the company’s stock valued at $91,520,000 after buying an additional 92,893 shares during the period. FMR LLC increased its stake in shares of Neenah Paper by 7.9% in the second quarter. FMR LLC now owns 919,455 shares of the company’s stock valued at $66,541,000 after buying an additional 67,500 shares during the period. Vanguard Group Inc. increased its stake in shares of Neenah Paper by 2.5% in the second quarter. Vanguard Group Inc. now owns 868,530 shares of the company’s stock valued at $62,855,000 after buying an additional 21,443 shares during the period. Brown Advisory Inc. increased its stake in shares of Neenah Paper by 0.6% in the second quarter. Brown Advisory Inc. now owns 699,325 shares of the company’s stock valued at $50,610,000 after buying an additional 4,339 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Neenah Paper by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 672,022 shares of the company’s stock valued at $48,633,000 after buying an additional 3,508 shares during the period. 89.30% of the stock is currently owned by institutional investors.
In other Neenah Paper news, VP Larry Newton Brownlee sold 2,913 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $76.76, for a total value of $223,601.88. Following the sale, the vice president now owns 442 shares of the company’s stock, valued at $33,927.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James R. Piedmonte sold 10,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $79.60, for a total transaction of $796,000.00. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 11th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 8th. This represents a $1.32 annualized dividend and a yield of 1.61%. Neenah Paper’s payout ratio is currently 33.42%.
About Neenah Paper
Neenah Paper, Inc has two principal operations, technical products business, and fine paper and packaging business. The Company’s segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media, which includes filtration media (Filtration), tape and abrasives backings products (Backings), and durable label and specialty substrate products (Specialty).
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