SunTrust Banks Comments on Newell Brands Inc.’s Q1 2018 Earnings (NWL)
Newell Brands Inc. (NYSE:NWL) – Equities research analysts at SunTrust Banks lowered their Q1 2018 earnings per share estimates for shares of Newell Brands in a report released on Thursday. SunTrust Banks analyst W. Chappell now forecasts that the company will earn $0.31 per share for the quarter, down from their previous estimate of $0.32. SunTrust Banks also issued estimates for Newell Brands’ Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $0.81 EPS, Q4 2018 earnings at $0.93 EPS, FY2018 earnings at $2.97 EPS, Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $1.01 EPS, Q3 2019 earnings at $0.93 EPS, Q4 2019 earnings at $1.05 EPS and FY2019 earnings at $3.39 EPS.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Jefferies Group cut Newell Brands from a “buy” rating to a “hold” rating and decreased their price objective for the company from $63.00 to $49.00 in a research note on Monday, September 11th. BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 price objective (down previously from $51.00) on shares of Newell Brands in a research note on Thursday, September 21st. JPMorgan Chase & Co. decreased their price objective on Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, September 21st. Finally, Deutsche Bank initiated coverage on Newell Brands in a research note on Wednesday, December 13th. They issued a “hold” rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Newell Brands presently has a consensus rating of “Hold” and an average target price of $46.73.
Newell Brands (NYSE:NWL) last announced its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the business earned $0.78 earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
Newell Brands declared that its board has approved a stock repurchase program on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other Newell Brands news, CEO Michael B. Polk bought 7,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $28.22 per share, with a total value of $197,540.00. Following the transaction, the chief executive officer now owns 616,296 shares of the company’s stock, valued at $17,391,873.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of NWL. Ameriprise Financial Inc. raised its position in shares of Newell Brands by 28.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock worth $417,953,000 after acquiring an additional 1,709,917 shares in the last quarter. FIL Ltd acquired a new position in Newell Brands during the second quarter worth approximately $76,301,000. Vanguard Group Inc. increased its position in Newell Brands by 2.8% during the second quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock worth $2,567,193,000 after buying an additional 1,305,820 shares during the period. Lord Abbett & CO. LLC increased its position in Newell Brands by 57.4% during the second quarter. Lord Abbett & CO. LLC now owns 3,200,022 shares of the company’s stock worth $171,585,000 after buying an additional 1,167,393 shares during the period. Finally, Teachers Advisors LLC increased its position in Newell Brands by 86.0% during the second quarter. Teachers Advisors LLC now owns 2,421,593 shares of the company’s stock worth $129,846,000 after buying an additional 1,119,376 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.
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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