Wall Street brokerages expect that Newell Brands Inc. (NYSE:NWL) will post $3.71 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Newell Brands’ earnings, with the lowest sales estimate coming in at $3.65 billion and the highest estimate coming in at $3.77 billion. Newell Brands posted sales of $3.95 billion in the same quarter last year, which would indicate a negative year over year growth rate of 6.1%. The business is scheduled to report its next quarterly earnings report on Friday, October 27th.
According to Zacks, analysts expect that Newell Brands will report full year sales of $3.71 billion for the current year, with estimates ranging from $14.87 billion to $15.05 billion. For the next year, analysts expect that the firm will post sales of $15.04 billion per share, with estimates ranging from $14.84 billion to $15.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Newell Brands.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. Newell Brands’s revenue for the quarter was up 5.1% on a year-over-year basis.
Several equities research analysts recently weighed in on NWL shares. BMO Capital Markets set a $51.00 price target on Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. BidaskClub lowered Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Wednesday, July 12th. B. Riley restated a “buy” rating and set a $71.00 price target on shares of Newell Brands in a research report on Friday, April 14th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $60.00 price target on shares of Newell Brands in a research report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Newell Brands presently has a consensus rating of “Buy” and a consensus target price of $58.07.
Hedge funds have recently modified their holdings of the company. BDO Wealth Advisors LLC bought a new stake in shares of Newell Brands during the second quarter worth approximately $107,000. Harfst & Associates Inc. bought a new stake in shares of Newell Brands during the first quarter worth approximately $103,000. Israel Discount Bank of New York bought a new stake in shares of Newell Brands during the first quarter worth approximately $112,000. Parallel Advisors LLC boosted its stake in shares of Newell Brands by 23.0% in the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after buying an additional 544 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Newell Brands by 52.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock worth $169,000 after buying an additional 1,088 shares during the last quarter. Institutional investors and hedge funds own 94.42% of the company’s stock.
Newell Brands (NYSE:NWL) opened at 50.00 on Friday. Newell Brands has a 12 month low of $43.43 and a 12 month high of $55.45. The stock’s 50 day moving average price is $52.68 and its 200-day moving average price is $50.04. The firm has a market capitalization of $24.21 billion, a price-to-earnings ratio of 20.05 and a beta of 1.17.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, August 29th. Newell Brands’s payout ratio is 36.95%.
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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