Newell Brands Inc (NYSE:NWL) – Equities research analysts at Gabelli lowered their FY2017 earnings estimates for Newell Brands in a research report issued to clients and investors on Friday. Gabelli analyst Z. Bodini now expects that the company will earn $2.70 per share for the year, down from their prior forecast of $2.80. Gabelli also issued estimates for Newell Brands’ FY2018 earnings at $2.75 EPS.
Several other equities analysts also recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Newell Brands to $25.00 and set a “market perform” rating for the company in a research note on Friday. Royal Bank of Canada downgraded shares of Newell Brands from an “outperform” rating to a “sector perform” rating in a research note on Friday. Jefferies Group reaffirmed a “hold” rating and set a $32.00 price objective on shares of Newell Brands in a research note on Thursday. Morgan Stanley cut shares of Newell Brands from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $38.00 to $25.00 in a research note on Thursday. Finally, Bank of America cut shares of Newell Brands from a “buy” rating to a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $42.27.
Newell Brands (NYSE:NWL) last posted 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). The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. Newell Brands’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS.
A number of institutional investors have recently made changes to their positions in the business. Capital World Investors lifted its position in Newell Brands by 2.0% during the second quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock valued at $1,672,723,000 after purchasing an additional 610,973 shares during the last quarter. American Century Companies Inc. lifted its position in Newell Brands by 2.9% during the third quarter. American Century Companies Inc. now owns 7,946,423 shares of the company’s stock valued at $339,074,000 after purchasing an additional 225,484 shares during the last quarter. First Manhattan Co. lifted its position in Newell Brands by 12.1% during the third quarter. First Manhattan Co. now owns 3,649,938 shares of the company’s stock valued at $155,742,000 after purchasing an additional 394,123 shares during the last quarter. King Luther Capital Management Corp lifted its position in Newell Brands by 7.0% during the third quarter. King Luther Capital Management Corp now owns 3,427,042 shares of the company’s stock valued at $146,232,000 after purchasing an additional 224,036 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted 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 valued at $171,585,000 after purchasing an additional 1,167,393 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.
In other news, CEO Michael B. Polk acquired 7,000 shares of Newell Brands stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $28.22 per share, with a total value of $197,540.00. Following the completion of the purchase, the chief executive officer now owns 616,296 shares in the company, valued at $17,391,873.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by insiders.
Newell Brands announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is 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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