Equities research analysts forecast that Newell Brands Inc (NYSE:NWL) will post sales of $2.34 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Newell Brands’ earnings. The highest sales estimate is $2.36 billion and the lowest is $2.31 billion. Newell Brands reported sales of $3.68 billion in the same quarter last year, which indicates a negative year over year growth rate of 36.4%. The business is expected to report its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Newell Brands will report full-year sales of $8.82 billion for the current financial year, with estimates ranging from $8.76 billion to $8.88 billion. For the next financial year, analysts anticipate that the business will post sales of $9.01 billion, with estimates ranging from $8.92 billion to $9.09 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Newell Brands.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Monday, August 6th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $3.83 billion. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. Newell Brands’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 EPS.
A number of analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Newell Brands from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a report on Monday, June 11th. Citigroup cut their price target on shares of Newell Brands from $36.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. BMO Capital Markets cut their price target on shares of Newell Brands from $27.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday, August 8th. Finally, Deutsche Bank cut their price target on shares of Newell Brands to $23.00 and set a “hold” rating for the company in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.82.
Shares of NYSE NWL opened at $18.82 on Monday. The company has a market cap of $9.59 billion, a PE ratio of 6.84, a PEG ratio of 4.72 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.17 and a quick ratio of 2.74. Newell Brands has a 1 year low of $18.61 and a 1 year high of $43.99.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were given a dividend of $0.23 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.89%. Newell Brands’s payout ratio is currently 33.45%.
Newell Brands declared that its board has authorized a share buyback program on Monday, June 11th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the company to buy up to 19.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In other Newell Brands news, CEO Michael B. Polk acquired 10,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $20.63 per share, for a total transaction of $206,300.00. Following the completion of the purchase, the chief executive officer now owns 941,951 shares in the company, valued at approximately $19,432,449.13. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Craigie acquired 11,500 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was acquired at an average price of $21.33 per share, for a total transaction of $245,295.00. Following the completion of the purchase, the director now owns 14,081 shares of the company’s stock, valued at approximately $300,347.73. The disclosure for this purchase can be found here. Company insiders own 0.97% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Northwest Wealth Management LLC increased its stake in shares of Newell Brands by 5,180.7% during the second quarter. Northwest Wealth Management LLC now owns 4,383 shares of the company’s stock worth $113,000 after acquiring an additional 4,300 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in Newell Brands during the second quarter worth about $146,000. Qube Research & Technologies Ltd purchased a new stake in Newell Brands during the second quarter worth about $149,000. BlueMountain Capital Management LLC purchased a new stake in Newell Brands during the second quarter worth about $151,000. Finally, WINTON GROUP Ltd purchased a new stake in Newell Brands during the first quarter worth about $211,000. Institutional investors and hedge funds own 97.80% of the company’s stock.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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