Newell Brands Inc (NYSE:NWL) – Jefferies Financial Group cut their Q4 2018 earnings per share estimates for shares of Newell Brands in a research note issued to investors on Monday, July 9th. Jefferies Financial Group analyst K. Grundy now expects that the company will post earnings of $0.78 per share for the quarter, down from their previous forecast of $0.79.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Friday, May 4th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.08. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.95 billion. Newell Brands had a return on equity of 10.05% and a net margin of 14.93%. The company’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share.
Other research analysts also recently issued research reports about the company. Wells Fargo & Co reiterated a “buy” rating on shares of Newell Brands in a report on Monday, June 11th. Vetr upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Monday, March 19th. Barclays set a $28.00 price objective on Newell Brands and gave the stock a “hold” rating in a report on Thursday, March 15th. Zacks Investment Research upgraded Newell Brands from a “sell” rating to a “hold” rating in a report on Tuesday, April 3rd. Finally, SunTrust Banks downgraded Newell Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.44.
Newell Brands opened at $27.64 on Wednesday, according to Marketbeat.com. The stock has a market capitalization of $13.52 billion, a PE ratio of 10.12, a P/E/G ratio of 1.72 and a beta of 0.74. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 0.68. Newell Brands has a 12 month low of $22.60 and a 12 month high of $54.19.
Large investors have recently made changes to their positions in the stock. Grassi Investment Management grew its holdings in shares of Newell Brands by 5.7% during the 2nd quarter. Grassi Investment Management now owns 324,313 shares of the company’s stock worth $8,364,000 after acquiring an additional 17,363 shares during the period. Northwest Wealth Management LLC grew its holdings in shares of Newell Brands by 5,180.7% during the 2nd quarter. Northwest Wealth Management LLC now owns 4,383 shares of the company’s stock worth $113,000 after acquiring an additional 4,300 shares during the period. Thompson Investment Management Inc. grew its holdings in shares of Newell Brands by 8.1% during the 2nd quarter. Thompson Investment Management Inc. now owns 137,181 shares of the company’s stock worth $3,538,000 after acquiring an additional 10,312 shares during the period. Berson & Corrado Investment Advisors LLC grew its holdings in shares of Newell Brands by 16.9% during the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 15,565 shares of the company’s stock worth $401,000 after acquiring an additional 2,246 shares during the period. Finally, IFM Investors Pty Ltd grew its holdings in shares of Newell Brands by 44.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 22,582 shares of the company’s stock worth $582,000 after acquiring an additional 6,929 shares during the period. Institutional investors own 96.73% of the company’s stock.
In other Newell Brands news, Director Michael Todman purchased 4,000 shares of Newell Brands stock in a transaction that occurred on Monday, May 21st. The shares were bought at an average price of $26.53 per share, for a total transaction of $106,120.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Craigie purchased 1,000 shares of Newell Brands stock in a transaction that occurred on Friday, May 18th. The shares were acquired at an average price of $26.67 per share, for a total transaction of $26,670.00. The disclosure for this purchase can be found here. 0.97% of the stock is owned by insiders.
Newell Brands declared that its board has authorized a share repurchase program on Monday, June 11th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 19.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. Newell Brands’s dividend payout ratio is presently 33.45%.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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