Newell Brands Inc. (NWL) Issues FY17 Earnings Guidance
Newell Brands Inc. (NYSE:NWL) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $3.00-3.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.11. The company issued revenue guidance of $14.52-14.72 billion, compared to the consensus revenue estimate of $14.75 billion.
Several brokerages have weighed in on NWL. Royal Bank Of Canada reaffirmed a buy rating and set a $60.00 price target on shares of Newell Brands in a research report on Thursday, June 8th. Jefferies Group LLC reaffirmed a buy rating and set a $61.00 price target on shares of Newell Brands in a research report on Monday, February 27th. Barclays PLC set a $60.00 price target on Newell Brands and gave the stock a buy rating in a research report on Saturday, February 18th. BMO Capital Markets set a $51.00 price target on Newell Brands and gave the stock a hold rating in a research report on Monday, May 8th. Finally, J P Morgan Chase & Co began coverage on Newell Brands in a research report on Tuesday, March 21st. They set an overweight rating and a $63.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $57.93.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Newell Brands had a net margin of 7.40% and a return on equity of 11.07%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The business’s revenue was up 148.4% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from Newell Brands’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, May 26th. Newell Brands’s payout ratio is 39.49%.
In other news, Director Thomas E. Clarke sold 5,353 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $52.49, for a total transaction of $280,978.97. Following the transaction, the director now directly owns 66,286 shares in the company, valued at $3,479,352.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.
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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.
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