Newell Brands Inc. (NYSE:NWL) – Equities research analysts at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for Newell Brands in a note issued to investors on Friday, Zacks Investment Research reports. Jefferies Group analyst K. Grundy now anticipates that the company will earn $2.81 per share for the year, down from their previous estimate of $3.00. Jefferies Group currently has a “Hold” rating and a $47.00 price objective on the stock. Jefferies Group also issued estimates for Newell Brands’ Q4 2017 earnings at $0.75 EPS.
Several other research analysts have also recently issued reports on NWL. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, August 1st. Forward View reaffirmed a “buy” rating and issued a $35.00 price target on shares of Newell Brands in a report on Sunday, November 5th. J P Morgan Chase & Co set a $61.00 price target on Newell Brands and gave the company a “buy” rating in a report on Monday, August 7th. BMO Capital Markets dropped their price target on Newell Brands from $45.00 to $32.00 and set a “market perform” rating on the stock in a report on Tuesday, November 7th. Finally, BidaskClub cut Newell Brands from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Newell Brands currently has a consensus rating of “Hold” and a consensus price target of $49.57.
Shares of Newell Brands (NWL) opened at $28.04 on Monday. The firm has a market capitalization of $13,953.15, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.20. Newell Brands has a 52-week low of $27.90 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 released its earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $3.68 billion during 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 business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is 35.52%.
Newell Brands declared that its Board of Directors has initiated a share 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In other Newell Brands news, CEO Michael B. Polk purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, with a total value 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 approximately $26,571,398.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott S. Cowen purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average cost of $43.60 per share, with a total value of $87,200.00. Following the transaction, the director now directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders have acquired 7,100 shares of company stock valued at $309,715 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC bought a new stake in shares of Newell Brands during the second quarter valued at approximately $107,000. Parkside Investments LLC bought a new stake in shares of Newell Brands during the third quarter valued at approximately $107,000. Harfst & Associates Inc. grew its stake in shares of Newell Brands by 14.4% during the second quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock valued at $134,000 after purchasing an additional 315 shares during the last quarter. BB&T Investment Services Inc. bought a new position in Newell Brands in the second quarter valued at approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Newell Brands by 52.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after acquiring an additional 1,088 shares during the last quarter. 91.42% of the stock is currently owned by institutional investors and hedge funds.
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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