Newell Brands Inc. (NYSE:NWL) – Analysts at Oppenheimer Holdings reduced their Q3 2017 earnings estimates for shares of Newell Brands in a research note issued to investors on Monday. Oppenheimer Holdings analyst R. Parikh now forecasts that the company will earn $0.87 per share for the quarter, down from their prior estimate of $0.89. Oppenheimer Holdings has a “Hold” rating and a $42.00 price target on the stock.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year.
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Other analysts also recently issued reports about the company. Forward View restated a “buy” rating and issued a $58.00 price objective on shares of Newell Brands in a research report on Monday, September 11th. Jefferies Group LLC reduced their target price on Newell Brands from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock 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 research report on Monday, August 7th. Finally, KeyCorp set a $60.00 target price on Newell Brands and gave the stock a “buy” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $52.47.
Shares of Newell Brands (NYSE NWL) opened at $30.77 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. The stock has a market cap of $14.71 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.93 and a beta of 1.20.
Newell Brands announced that its board has initiated a share repurchase plan on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, CEO Michael B. Polk purchased 5,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was bought at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott S. Cowen purchased 2,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were purchased 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 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. 0.97% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Eaton Vance Management increased its stake in Newell Brands by 2.1% during the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock worth $217,467,000 after acquiring an additional 82,184 shares during the last quarter. King Luther Capital Management Corp increased its stake in Newell Brands by 1.0% during the second quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock worth $171,745,000 after acquiring an additional 30,576 shares during the last quarter. Bellwether Investment Group LLC grew its stake in shares of Newell Brands by 2.0% in the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after buying an additional 110 shares in the last quarter. FMR LLC grew its stake in shares of Newell Brands by 0.5% in the second quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after buying an additional 52,553 shares in the last quarter. Finally, PICTET BANK & TRUST Ltd acquired a new stake in shares of Newell Brands in the second quarter valued at about $2,102,000. Institutional investors own 92.24% of the company’s stock.
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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