Newell Rubbermaid Reaches New 1-Year High Following Earnings Beat (NWL)
Newell Rubbermaid (NYSE:NWL)’s share price reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings, AnalystRatings.NET reports. The stock traded as high as $33.17 and last traded at $32.59, with a volume of 2,463,315 shares trading hands. The stock had previously closed at $31.61.
The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis.
A number of research firms have recently commented on NWL. Analysts at Morgan Stanley raised their price target on shares of Newell Rubbermaid from $34.00 to $36.00 in a research note on Monday, July 7th. They now have an “overweight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Newell Rubbermaid in a research note on Tuesday, May 20th. They now have a $31.00 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $33.33.
The stock has a 50-day moving average of $31.28 and a 200-day moving average of $30.54. The company has a market cap of $9.015 billion and a price-to-earnings ratio of 19.40.
Newell Rubbermaid Inc is a global marketer of consumer and commercial products. The Company’s products are marketed under a portfolio of brands, including Rubbermaid, Levolor, Goody, Calphalon, Sharpie, Paper Mate, Parker, Waterman, Irwin, Lenox, Graco, Aprica and Dymo.
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