Newell Brands Inc. (NWL) Updates FY17 Earnings Guidance
Newell Brands Inc. (NYSE:NWL) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $2.80-2.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.00. The company issued revenue guidance of $14.7-14.8 billion, compared to the consensus revenue estimate of $14.91 billion.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Newell Brands from a hold rating to a buy rating and set a $59.00 price objective on the stock in a research report on Wednesday, July 12th. J P Morgan Chase & Co downgraded Newell Brands from an overweight rating to a neutral rating and decreased their target price for the stock from $56.00 to $39.00 in a research report on Thursday. Jefferies Group LLC reissued a hold rating and set a $47.00 price objective on shares of Newell Brands in a research note on Thursday. BMO Capital Markets reissued a market perform rating and set a $45.00 price objective (down from $51.00) on shares of Newell Brands in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada reissued a top pick rating and set a $60.00 price objective on shares of Newell Brands in a research note on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Newell Brands has a consensus rating of Buy and a consensus price target of $54.46.
Newell Brands (NYSE:NWL) last issued its earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year.
Newell Brands announced that its board has approved a stock repurchase plan on Tuesday, September 26th that allows the company to repurchase $256.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Newell Brands news, Director Scott S. Cowen purchased 2,000 shares of the stock in a transaction dated Monday, September 11th. The shares were acquired 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 directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael B. Polk purchased 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the transaction, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The disclosure for this purchase can be found here. Insiders bought 7,100 shares of company stock worth $309,715 over the last quarter. Company insiders own 0.97% of the company’s stock.
About Newell Brands
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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