FY2016 Earnings Estimate for Newell Brands Inc. (NWL) Issued By Oppenheimer Holdings
Newell Brands Inc. (NYSE:NWL) – Research analysts at Oppenheimer Holdings dropped their FY2016 earnings estimates for shares of Newell Brands in a report issued on Thursday. Oppenheimer Holdings analyst R. Parikh now anticipates that the firm will post earnings per share of $2.88 for the year, down from their prior forecast of $2.90. Oppenheimer Holdings also issued estimates for Newell Brands’ Q4 2016 earnings at $0.80 EPS, Q1 2017 earnings at $0.31 EPS, Q2 2017 earnings at $0.85 EPS, Q3 2017 earnings at $0.80 EPS, Q4 2017 earnings at $0.97 EPS, FY2017 earnings at $2.94 EPS, FY2018 earnings at $3.42 EPS and FY2019 earnings at $3.82 EPS.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 158.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share.
A number of other research firms also recently commented on NWL. Citigroup Inc. reiterated a “buy” rating and issued a $61.00 price objective on shares of Newell Brands in a report on Tuesday, August 2nd. RBC Capital Markets reiterated a “buy” rating on shares of Newell Brands in a report on Monday, August 1st. Zacks Investment Research downgraded shares of Newell Brands from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Deutsche Bank AG increased their price objective on shares of Newell Brands from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Royal Bank Of Canada reiterated a “top pick” rating and issued a $60.00 price objective on shares of Newell Brands in a report on Monday, August 1st. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Newell Brands presently has a consensus rating of “Buy” and an average target price of $58.75.
Shares of Newell Brands (NYSE:NWL) opened at 47.57 on Monday. Newell Brands has a one year low of $33.26 and a one year high of $55.45. The stock has a market cap of $22.95 billion, a price-to-earnings ratio of 46.36 and a beta of 1.03. The company has a 50 day moving average price of $50.03 and a 200-day moving average price of $50.22.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.19 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.76 annualized dividend and a yield of 1.60%. Newell Brands’s dividend payout ratio is presently 86.36%.
In other Newell Brands news, President Mark Tarchetti purchased 12,436 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was bought at an average price of $48.15 per share, with a total value of $598,793.40. Following the transaction, the president now directly owns 188,995 shares of the company’s stock, valued at approximately $9,100,109.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael B. Polk purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was acquired at an average cost of $47.82 per share, with a total value of $191,280.00. Following the transaction, the chief executive officer now directly owns 338,169 shares in the company, valued at $16,171,241.58. The disclosure for this purchase can be found here. 0.66% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its position 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 in the last quarter. Seven Bridges Advisors LLC acquired a new position in shares of Newell Brands during the second quarter valued at approximately $137,000. Parkside Financial Bank & Trust boosted its position 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 in the last quarter. Global X Management Co. LLC boosted its position 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 in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Newell Brands by 1,334.4% in the third quarter. D.A. Davidson & CO. now owns 2,754 shares of the company’s stock valued at $145,000 after buying an additional 2,562 shares in the last quarter. 95.22% 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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