Newell Brands Inc (NWL) Expected to Post Earnings of $0.69 Per Share
Brokerages expect Newell Brands Inc (NYSE:NWL) to announce $0.69 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Newell Brands’ earnings. The lowest EPS estimate is $0.66 and the highest is $0.76. Newell Brands reported earnings per share of $0.80 in the same quarter last year, which suggests a negative year-over-year growth rate of 13.8%. The business is scheduled to announce its next quarterly earnings results before the market opens on Friday, February 16th.
On average, analysts expect that Newell Brands will report full-year earnings of $2.75 per share for the current fiscal year, with EPS estimates ranging from $2.70 to $2.83. For the next year, analysts anticipate that the company will report earnings of $2.75 per share, with EPS estimates ranging from $2.65 to $3.00. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Newell Brands.
A number of research firms recently commented on NWL. 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. Jefferies Group reiterated a “hold” rating and issued a $47.00 target price on shares of Newell Brands in a research report on Thursday, October 19th. JPMorgan Chase & Co. downgraded Newell Brands from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $56.00 to $63.00 in a research report on Thursday, November 2nd. Oppenheimer reiterated a “hold” rating and issued a $42.00 target price on shares of Newell Brands in a research report on Tuesday, October 31st. Finally, Zacks Investment Research downgraded Newell Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $39.06.
Newell Brands announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Michael B. Polk acquired 7,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the completion of the transaction, the chief executive officer now directly owns 616,296 shares in the company, valued at approximately $17,391,873.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Hedge funds have recently modified their holdings of the business. State of Wisconsin Investment Board grew its stake in shares of Newell Brands by 11.5% during the third quarter. State of Wisconsin Investment Board now owns 447,404 shares of the company’s stock valued at $19,091,000 after buying an additional 46,217 shares during the last quarter. Skylands Capital LLC grew its stake in shares of Newell Brands by 165.3% during the fourth quarter. Skylands Capital LLC now owns 11,395 shares of the company’s stock valued at $352,000 after buying an additional 7,100 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Newell Brands by 85.8% during the third quarter. Whittier Trust Co. now owns 10,658 shares of the company’s stock valued at $455,000 after buying an additional 4,921 shares during the last quarter. AXA grew its stake in shares of Newell Brands by 22.6% during the third quarter. AXA now owns 307,936 shares of the company’s stock valued at $13,140,000 after buying an additional 56,694 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Newell Brands by 2.6% during the third quarter. Macquarie Group Ltd. now owns 368,620 shares of the company’s stock valued at $15,729,000 after buying an additional 9,394 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.
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About Newell Brands
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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