Newell Brands Inc (NYSE:NWL) – Forward View cut their Q1 2018 EPS estimates for Newell Brands in a research note issued to investors on Tuesday. Forward View analyst N. Yates now expects that the company will post earnings of $0.19 per share for the quarter, down from their previous forecast of $0.52. Forward View also issued estimates for Newell Brands’ Q2 2018 earnings at $1.05 EPS.
NWL has been the topic of several other research reports. Jefferies Group LLC restated a “buy” rating and set a $61.00 target price on shares of Newell Brands in a research report on Monday, February 27th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a research report on Saturday, April 22nd. Barclays PLC set a $60.00 target price on Newell Brands and gave the company a “buy” rating in a research report on Saturday, February 18th. Zacks Investment Research lowered Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Finally, JPMorgan Chase & Co. began coverage on Newell Brands in a research report on Tuesday, March 21st. They set an “overweight” rating and a $63.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.93.
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Shares of Newell Brands (NYSE:NWL) traded up 1.5857% during trading on Thursday, reaching $52.6925. The company’s stock had a trading volume of 1,071,704 shares. The company’s 50 day moving average price is $48.30 and its 200 day moving average price is $47.47. The firm has a market cap of $25.46 billion, a PE ratio of 22.3652 and a beta of 0.94. Newell Brands has a 12 month low of $43.43 and a 12 month high of $55.45.
Newell Brands (NYSE:NWL) last issued its earnings results on Monday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.05. Newell Brands had a return on equity of 13.59% and a net margin of 3.98%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the business earned $0.40 earnings per share. The company’s revenue was up 148.4% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Newell Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 46,571,725 shares of the company’s stock worth $2,196,788,000 after buying an additional 1,584,954 shares in the last quarter. BlackRock Inc. raised its position in Newell Brands by 3,249.0% in the first quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock worth $1,413,905,000 after buying an additional 29,079,686 shares in the last quarter. State Street Corp raised its position in Newell Brands by 5.1% in the fourth quarter. State Street Corp now owns 22,868,748 shares of the company’s stock worth $1,021,092,000 after buying an additional 1,116,005 shares in the last quarter. JPMorgan Chase & Co. raised its position in Newell Brands by 32.0% in the third quarter. JPMorgan Chase & Co. now owns 13,288,502 shares of the company’s stock worth $700,222,000 after buying an additional 3,225,216 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Newell Brands by 6.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,876,886 shares of the company’s stock worth $465,892,000 after buying an additional 563,331 shares in the last quarter. Institutional investors own 93.22% of the company’s stock.
In other news, Director Steven J. Strobel sold 5,353 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $49.38, for a total value of $264,331.14. Following the transaction, the director now owns 53,065 shares in the company, valued at $2,620,349.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin E. Franklin sold 340,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.34, for a total value of $16,435,600.00. Following the completion of the transaction, the director now owns 4,840,926 shares in the company, valued at approximately $234,010,362.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 350,706 shares of company stock worth $16,980,910. Corporate insiders own 0.66% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a $0.23 dividend. The ex-dividend date is Friday, May 26th. This represents a $0.92 annualized dividend and a yield of 1.77%. This is a positive change from Newell Brands’s previous quarterly dividend of $0.19. Newell Brands’s dividend payout ratio is presently 64.96%.
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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