Analysts predict that Newell Brands Inc (NYSE:NWL) will announce earnings per share of $0.27 for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Newell Brands’ earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.24. Newell Brands reported earnings per share of $0.86 in the same quarter last year, which suggests a negative year over year growth rate of 68.6%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Newell Brands will report full year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.80 to $0.96. For the next fiscal year, analysts forecast that the business will report earnings of $1.77 per share, with EPS estimates ranging from $1.40 to $1.95. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Newell Brands.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Monday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company’s quarterly revenue was down 12.8% compared to the same quarter last year.
Several research firms have recently issued reports on NWL. Bank of America boosted their price target on shares of Newell Brands from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Zacks Investment Research lowered shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Deutsche Bank decreased their target price on shares of Newell Brands to $23.00 and set a “hold” rating on the stock in a report on Tuesday, August 7th. Citigroup decreased their target price on shares of Newell Brands from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 24th. Finally, Jefferies Financial Group decreased their target price on shares of Newell Brands from $29.00 to $23.00 and set a “hold” rating on the stock in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $28.82.
In related news, Director James Craigie purchased 11,500 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was acquired at an average price of $21.33 per share, with a total value of $245,295.00. Following the purchase, the director now directly owns 14,081 shares in the company, valued at $300,347.73. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael B. Polk purchased 10,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was bought at an average cost of $20.63 per share, with a total value of $206,300.00. Following the purchase, the chief executive officer now owns 941,951 shares in the company, valued at $19,432,449.13. The disclosure for this purchase can be found here. 0.97% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Icahn Carl C purchased a new position in Newell Brands in the 1st quarter worth approximately $771,529,000. Pzena Investment Management LLC purchased a new position in Newell Brands in the 2nd quarter worth approximately $427,655,000. Bank of New York Mellon Corp grew its stake in Newell Brands by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,134,310 shares of the company’s stock worth $312,943,000 after buying an additional 295,384 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Newell Brands by 5.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 9,095,209 shares of the company’s stock worth $234,565,000 after buying an additional 462,697 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Newell Brands by 6.0% in the 2nd quarter. Morgan Stanley now owns 3,354,254 shares of the company’s stock valued at $86,507,000 after purchasing an additional 190,217 shares in the last quarter. 97.80% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE NWL traded down $0.15 during midday trading on Friday, hitting $17.52. The company’s stock had a trading volume of 6,948,328 shares, compared to its average volume of 8,289,836. Newell Brands has a one year low of $17.28 and a one year high of $43.13. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.66. The firm has a market cap of $9.59 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 4.72 and a beta of 0.60.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Thursday, August 30th. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
About Newell Brands
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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