Newell Brands Inc. (NYSE:NWL) – Investment analysts at SunTrust Banks increased their FY2018 earnings per share estimates for Newell Brands in a report issued on Monday. SunTrust Banks analyst W. Chappell now forecasts that the company will earn $3.35 per share for the year, up from their previous estimate of $2.97.
Several other research firms have also weighed in on NWL. JPMorgan Chase & Co. lowered Newell Brands from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $56.00 to $63.00 in a research report on Thursday, November 2nd. Oppenheimer reiterated a “hold” rating and set a $42.00 target price on shares of Newell Brands in a research note on Tuesday, October 31st. Jefferies Group reiterated a “hold” rating and set a $47.00 target price on shares of Newell Brands in a research note on Thursday, October 19th. Barclays reiterated a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research note on Wednesday, December 6th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Newell Brands in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.20.
Newell Brands (NYSE:NWL) traded up $0.35 during trading hours on Wednesday, hitting $32.26. The company’s stock had a trading volume of 3,519,225 shares, compared to its average volume of 4,205,992. The firm has a market cap of $15,810.00, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.22 and a beta of 1.10. Newell Brands has a 52-week low of $27.45 and a 52-week high of $55.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.85%. Newell Brands’s dividend payout ratio is currently 35.52%.
Newell Brands announced that its board has initiated a stock buyback plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, CEO Michael B. Polk purchased 7,000 shares of Newell Brands stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the purchase, the chief executive officer now directly owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Newell Brands by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after purchasing an additional 1,305,820 shares during the period. Capital World Investors boosted its stake in Newell Brands by 2.0% in the 2nd 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 period. BlackRock Inc. boosted its stake in Newell Brands by 1.8% in the 2nd quarter. BlackRock Inc. now owns 30,518,491 shares of the company’s stock valued at $1,636,402,000 after purchasing an additional 543,779 shares during the period. FMR LLC boosted its stake in Newell Brands by 0.5% in the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after purchasing an additional 52,553 shares during the period. Finally, American Century Companies Inc. boosted its stake in Newell Brands by 2.9% in the 3rd 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 period. Institutional investors and hedge funds own 94.29% of the company’s stock.
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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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