FY2017 EPS Estimates for Newell Brands Inc. (NWL) Lowered by Analyst
Newell Brands Inc. (NYSE:NWL) – Stock analysts at Oppenheimer Holdings lowered their FY2017 earnings per share estimates for Newell Brands in a research note issued to investors on Monday. Oppenheimer Holdings analyst R. Parikh now expects that the company will post earnings per share of $2.95 for the year, down from their previous forecast of $3.00. Oppenheimer Holdings currently has a “Hold” rating and a $42.00 target price on the stock. Oppenheimer Holdings also issued estimates for Newell Brands’ Q4 2017 earnings at $0.87 EPS, FY2018 earnings at $3.25 EPS and FY2019 earnings at $3.60 EPS.
Several other equities research analysts also recently weighed in on the company. Jefferies Group LLC downgraded Newell Brands from a “buy” rating to a “hold” rating and lowered their price target for the stock from $63.00 to $49.00 in a report on Monday, September 11th. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 price target on shares of Newell Brands in a report on Tuesday, August 29th. Zacks Investment Research downgraded Newell Brands from a “buy” rating to a “hold” rating in a report on Friday, July 28th. J P Morgan Chase & Co lowered their price target on Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, September 21st. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $45.00 price target (down previously from $51.00) on shares of Newell Brands in a report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Newell Brands currently has a consensus rating of “Buy” and an average target price of $55.77.
Newell Brands (NYSE NWL) opened at 40.78 on Wednesday. The firm has a 50-day moving average price of $42.10 and a 200-day moving average price of $48.77. Newell Brands has a 12 month low of $39.58 and a 12 month high of $55.08. The stock has a market cap of $19.99 billion, a price-to-earnings ratio of 16.29 and a beta of 1.15.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Newell Brands’s revenue was up 5.1% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the stock. Eaton Vance Management raised its position in Newell Brands by 2.1% during the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock valued at $217,467,000 after acquiring an additional 82,184 shares in the last quarter. King Luther Capital Management Corp raised its position in Newell Brands by 1.0% during the second quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock valued at $171,745,000 after acquiring an additional 30,576 shares in the last quarter. Bellwether Investment Group LLC raised its position in Newell Brands by 2.0% during the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after acquiring an additional 110 shares in the last quarter. FMR LLC raised its position in Newell Brands by 0.5% during the second quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after acquiring an additional 52,553 shares in the last quarter. Finally, PICTET BANK & TRUST Ltd purchased a new position in Newell Brands during the second quarter valued at approximately $2,102,000. Institutional investors own 92.24% of the company’s stock.
In related news, Director Scott S. Cowen purchased 2,000 shares of Newell Brands stock in a transaction that occurred 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 transaction, the director now owns 87,883 shares in the company, valued at $3,831,698.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael B. Polk purchased 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The shares were bought at an average price of $43.61 per share, with a total value of $218,050.00. Following the completion of the transaction, the chief executive officer now owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 7,100 shares of company stock valued at $309,715. Company insiders own 0.97% of the company’s stock.
Newell Brands declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 26th that authorizes the company to buyback $256.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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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