Newell Brands Inc (NYSE:NWL) – Equities research analysts at Oppenheimer dropped their FY2019 earnings estimates for shares of Newell Brands in a report issued on Monday, October 29th, Zacks Investment Research reports. Oppenheimer analyst R. Parikh now expects that the company will post earnings per share of $1.12 for the year, down from their prior estimate of $1.91. Oppenheimer also issued estimates for Newell Brands’ FY2020 earnings at $1.65 EPS.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, November 2nd. The company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.55. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year.
A number of other brokerages have also weighed in on NWL. Deutsche Bank lowered their price objective on Newell Brands to $23.00 and set a “hold” rating on the stock in a report on Tuesday, August 7th. BMO Capital Markets lowered their price objective on Newell Brands from $25.00 to $20.00 and set a “market perform” rating on the stock in a report on Monday, November 5th. Zacks Investment Research reaffirmed a “strong sell” rating on shares of Newell Brands in a report on Wednesday, November 14th. Citigroup decreased their price target on Newell Brands from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Finally, Bank of America decreased their price target on Newell Brands from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $26.60.
NWL traded up $0.17 during trading on Wednesday, reaching $21.77. The company’s stock had a trading volume of 5,037,821 shares, compared to its average volume of 11,531,830. Newell Brands has a 52-week low of $15.11 and a 52-week high of $32.58. The firm has a market capitalization of $10.08 billion, a PE ratio of 7.92, a P/E/G ratio of 3.64 and a beta of 0.82. The company has a current ratio of 2.98, a quick ratio of 2.53 and a debt-to-equity ratio of 1.54.
Several institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in Newell Brands by 62.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,694 shares of the company’s stock valued at $450,000 after acquiring an additional 6,833 shares during the last quarter. LPL Financial LLC raised its holdings in Newell Brands by 33.7% in the 1st quarter. LPL Financial LLC now owns 26,886 shares of the company’s stock valued at $685,000 after acquiring an additional 6,780 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Newell Brands in the 1st quarter valued at $211,000. Suntrust Banks Inc. raised its holdings in Newell Brands by 17.5% in the 1st quarter. Suntrust Banks Inc. now owns 51,446 shares of the company’s stock valued at $1,309,000 after acquiring an additional 7,664 shares during the last quarter. Finally, DnB Asset Management AS raised its holdings in Newell Brands by 6.8% in the 2nd quarter. DnB Asset Management AS now owns 56,853 shares of the company’s stock valued at $1,466,000 after acquiring an additional 3,600 shares during the last quarter.
In related news, Director Brett Icahn acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was purchased at an average cost of $20.03 per share, for a total transaction of $2,003,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.97% of the stock is owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Thursday, November 29th. Newell Brands’s dividend payout ratio (DPR) is 33.45%.
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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