Analysts forecast that Newell Brands Inc (NYSE:NWL) will announce sales of $2.34 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Newell Brands’ earnings, with the highest sales estimate coming in at $2.36 billion and the lowest estimate coming in at $2.31 billion. Newell Brands posted sales of $3.68 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 36.4%. The firm is expected to issue its next earnings report on Thursday, November 1st.
On average, 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 expect that the firm will report sales of $9.01 billion, with estimates ranging from $8.92 billion to $9.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Newell Brands.
Newell Brands (NYSE:NWL) last issued its earnings results on Monday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $3.83 billion. During the same period in the prior year, the firm earned $0.87 EPS. Newell Brands’s quarterly revenue was down 12.8% compared to the same quarter last year.
NWL has been the topic of a number of research reports. Bank of America decreased their price target on shares of Newell Brands from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 4th. Citigroup decreased their price target on shares of Newell Brands from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Jefferies Financial Group decreased their price target on shares of Newell Brands from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Newell Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, BMO Capital Markets decreased their price target on shares of Newell Brands from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Newell Brands has an average rating of “Hold” and an average target price of $28.82.
NWL traded down $0.15 on Monday, reaching $17.52. The company had a trading volume of 6,948,328 shares, compared to its average volume of 8,289,836. Newell Brands has a fifty-two week low of $17.28 and a fifty-two week high of $43.13. 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 has a debt-to-equity ratio of 0.66, a quick ratio of 2.74 and a current ratio of 3.17.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.25%. Newell Brands’s payout ratio is presently 33.45%.
In other Newell Brands news, Director James Craigie bought 11,500 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were purchased at an average price of $21.33 per share, for a total transaction of $245,295.00. Following the transaction, the director now directly owns 14,081 shares in the company, valued at approximately $300,347.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael B. Polk bought 10,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were acquired at an average price of $20.63 per share, for a total transaction of $206,300.00. Following the transaction, 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. Corporate insiders own 0.97% of the company’s stock.
Several large investors have recently made changes to their positions in NWL. Northwest Wealth Management LLC boosted its position in shares of Newell Brands by 5,180.7% during the 2nd 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 in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Newell Brands during the 2nd quarter worth approximately $146,000. Qube Research & Technologies Ltd acquired a new stake in shares of Newell Brands during the 2nd quarter worth approximately $149,000. BlueMountain Capital Management LLC acquired a new stake in shares of Newell Brands during the 2nd quarter worth approximately $151,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Newell Brands during the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors 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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