Newell Brands Inc. to Post FY2017 Earnings of $2.83 Per Share, Forward View Forecasts (NWL)
Newell Brands Inc. (NYSE:NWL) – Investment analysts at Forward View lowered their FY2017 earnings estimates for Newell Brands in a research note issued on Sunday. Forward View analyst N. Yates now forecasts that the company will post earnings per share of $2.83 for the year, down from their prior estimate of $3.03. Forward View has a “Buy” rating and a $35.00 price objective on the stock. Forward View also issued estimates for Newell Brands’ Q4 2017 earnings at $0.76 EPS and Q2 2018 earnings at $0.97 EPS.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. Newell Brands’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share.
TRADEMARK VIOLATION WARNING: This story was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/11/08/newell-brands-inc-to-post-fy2017-earnings-of-2-83-per-share-forward-view-forecasts-nwl.html.
NWL has been the topic of several other reports. Morgan Stanley dropped their price target on Newell Brands from $54.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, November 3rd. Royal Bank Of Canada restated a “top pick” rating and set a $60.00 price target on shares of Newell Brands in a research report on Tuesday, August 29th. Jefferies Group LLC restated a “buy” rating and set a $65.00 price target (down from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. Zacks Investment Research lowered Newell Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Finally, BMO Capital Markets dropped their price target on Newell Brands from $45.00 to $32.00 and set a “market perform” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.07.
Shares of Newell Brands (NWL) opened at $30.65 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86. Newell Brands has a 1 year low of $29.70 and a 1 year high of $55.08. The firm has a market capitalization of $14,950.00, a P/E ratio of 10.72, a PEG ratio of 1.00 and a beta of 1.20.
Newell Brands declared that its board has authorized a stock buyback program on Tuesday, September 26th that allows the company to repurchase $256.00 million in shares. This repurchase authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, CEO Michael B. Polk bought 5,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were acquired at an average cost of $43.61 per share, with a total value of $218,050.00. Following the completion of the acquisition, the chief executive officer now owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott S. Cowen bought 2,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was bought at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the acquisition, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. Insiders acquired 7,100 shares of company stock worth $309,715 over the last three months. Corporate insiders own 0.97% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NWL. Bank of New York Mellon Corp raised its stake in shares of Newell Brands by 112.5% in the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock worth $742,686,000 after purchasing an additional 7,331,309 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Newell Brands in the second quarter worth $124,839,000. Ameriprise Financial Inc. raised its stake in shares of Newell Brands by 28.1% in the second quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock worth $417,953,000 after purchasing an additional 1,709,917 shares during the last quarter. FIL Ltd purchased a new position in shares of Newell Brands in the second quarter worth $76,301,000. Finally, Vanguard Group Inc. raised its stake in shares of Newell Brands by 2.8% in the second quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock worth $2,567,193,000 after purchasing an additional 1,305,820 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Company Profile
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
Receive News & Stock Ratings for Newell Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands Inc. and related stocks with our FREE daily email newsletter.