Newell Brands Inc. (NWL) Sets New 12-Month Low on Disappointing Earnings

Shares of Newell Brands Inc. (NYSE:NWL) hit a new 52-week low on Thursday following a dissappointing earnings announcement. The company traded as low as $30.11 and last traded at $0.00, with a volume of shares. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. Newell Brands’s quarterly revenue was down 7.0% compared to the same quarter last year.

Newell Brands announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 26th that allows the company to buyback $256.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Several analysts recently weighed in on NWL shares. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 target price on Newell Brands and gave the stock a “buy” rating in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 target price (down previously from $66.00) on shares of Newell Brands in a report on Monday, August 7th. Forward View reaffirmed a “buy” rating and issued a $58.00 target price on shares of Newell Brands in a report on Monday, September 11th. Finally, KeyCorp set a $60.00 target price on Newell Brands and gave the stock a “buy” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $56.31.

In related news, Director Scott S. Cowen purchased 2,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was bought at an average price of $43.60 per share, with a total value of $87,200.00. Following the completion of the purchase, the director now owns 87,883 shares in the company, valued at approximately $3,831,698.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael B. Polk purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was bought at an average cost of $43.61 per share, with a total value of $218,050.00. Following the purchase, the chief executive officer now owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. In the last three months, insiders bought 7,100 shares of company stock valued at $309,715. Insiders own 0.97% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its stake in shares of Newell Brands by 2.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 51,644 shares of the company’s stock valued at $2,204,000 after buying an additional 1,477 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Newell Brands by 26.2% in the third quarter. Daiwa Securities Group Inc. now owns 17,295 shares of the company’s stock valued at $738,000 after buying an additional 3,595 shares during the period. Prudential Financial Inc. increased its stake in shares of Newell Brands by 0.6% in the third quarter. Prudential Financial Inc. now owns 672,923 shares of the company’s stock valued at $28,713,000 after buying an additional 3,690 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in shares of Newell Brands in the third quarter valued at about $8,359,000. Finally, Mayo Investment Advisers LLC acquired a new stake in shares of Newell Brands in the third quarter valued at about $3,403,000. 92.24% of the stock is owned by institutional investors.

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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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