Newell Brands Inc. (NWL) Releases FY17 Earnings Guidance
Newell Brands Inc. (NYSE:NWL) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.80-2.85 for the period, compared to the Thomson Reuters consensus estimate of $3.00. The company issued revenue guidance of $14.7-14.8 billion, compared to the consensus revenue estimate of $14.91 billion.
A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price objective on Newell Brands from $54.00 to $38.00 and set an overweight rating on the stock in a research report on Friday. Royal Bank Of Canada reaffirmed a top pick rating and set a $60.00 price objective on shares of Newell Brands in a research report on Tuesday, August 29th. Jefferies Group LLC reaffirmed a buy rating and set a $66.00 price objective (up previously from $65.00) on shares of Newell Brands in a research report on Thursday, July 6th. Zacks Investment Research downgraded Newell Brands from a hold rating to a sell rating in a research report on Tuesday, September 19th. Finally, Forward View reaffirmed a buy rating and set a $58.00 price objective on shares of Newell Brands in a research report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $55.00.
Newell Brands Inc. (NWL) traded down $10.77 during trading on Friday, reaching $30.01. The company’s stock had a trading volume of 47,531,743 shares, compared to its average volume of 6,814,859. The company has a market cap of $14,707.90, a PE ratio of 10.46 and a beta of 1.20.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. sell-side analysts forecast that Newell Brands Inc. will post 2.8 earnings per share for the current year.
Newell Brands declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the purchase, the chief executive officer now directly owns 609,296 shares in the company, valued at approximately $26,571,398.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott S. Cowen acquired 2,000 shares of Newell Brands stock in a transaction dated Monday, September 11th. The stock was purchased at an average price of $43.60 per share, with a total value of $87,200.00. Following the completion of the purchase, the director now owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 7,100 shares of company stock valued at $309,715. Company insiders own 0.97% 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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