Newell Brands Inc. (NYSE:NWL) – Equities researchers at Oppenheimer Holdings lowered their Q3 2017 earnings per share (EPS) estimates for shares of Newell Brands in a research report issued on Monday. Oppenheimer Holdings analyst R. Parikh now expects that the company will post earnings of $0.87 per share for the quarter, down from their prior forecast of $0.89. Oppenheimer Holdings has a “Hold” rating and a $42.00 price target on the stock.
NWL has been the subject of several other research reports. Royal Bank Of Canada reissued a “top pick” rating and set a $60.00 target price on shares of Newell Brands in a research note on Tuesday, August 29th. Jefferies Group LLC reissued a “buy” rating and set a $66.00 target price (up previously from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. Zacks Investment Research downgraded Newell Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. Forward View reissued a “buy” rating and set a $58.00 target price on shares of Newell Brands in a research note on Monday, September 11th. Finally, KeyCorp set a $60.00 target price on Newell Brands and gave the stock a “buy” rating in a research note on Monday, October 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $55.77.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS.
Institutional investors have recently added to or reduced their stakes in the company. Eaton Vance Management increased its stake in shares of Newell Brands by 2.1% in the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock valued at $217,467,000 after buying an additional 82,184 shares during the period. King Luther Capital Management Corp increased its position in Newell Brands by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock valued at $171,745,000 after purchasing an additional 30,576 shares during the period. Bellwether Investment Group LLC increased its position in Newell Brands by 2.0% during the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after purchasing an additional 110 shares during the period. FMR LLC increased its position in Newell Brands by 0.5% during the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after purchasing an additional 52,553 shares during the period. Finally, PICTET BANK & TRUST Ltd acquired a new stake in Newell Brands during the 2nd quarter valued at approximately $2,102,000. 92.24% of the stock is owned by institutional investors.
In other news, CEO Michael B. Polk acquired 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of $43.61 per share, with a total value of $218,050.00. Following the completion of the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott S. Cowen acquired 2,000 shares of the stock in a transaction dated Monday, September 11th. The stock was purchased at an average cost of $43.60 per share, with a total value of $87,200.00. Following the purchase, the director now directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders bought 7,100 shares of company stock valued at $309,715 in the last ninety days. 0.97% of the stock is currently owned by insiders.
Newell Brands announced that its board has authorized a share repurchase plan on Tuesday, September 26th that permits the company to buyback $256.00 million in shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
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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