Newell Brands Inc. (NYSE:NWL) – Investment analysts at Oppenheimer Holdings decreased their FY2017 EPS estimates for Newell Brands in a research note issued to investors on Monday. Oppenheimer Holdings analyst R. Parikh now forecasts that the company will earn $2.95 per share for the year, down from their prior estimate of $3.00. Oppenheimer Holdings has a “Hold” rating and a $42.00 price target on the stock. Oppenheimer Holdings also issued estimates for Newell Brands’ Q4 2017 earnings at $0.87 EPS, FY2018 earnings at $3.25 EPS and FY2019 earnings at $3.60 EPS.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis.
A number of other brokerages also recently issued reports on NWL. BMO Capital Markets set a $51.00 target price on Newell Brands and gave the stock a “hold” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Wednesday, July 12th. BidaskClub upgraded Newell Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. J P Morgan Chase & Co set a $61.00 target price on Newell Brands and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $47.00 target price on shares of Newell Brands in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Newell Brands has an average rating of “Buy” and an average price target of $55.77.
A number of large investors have recently made changes to their positions in NWL. Bank of New York Mellon Corp lifted its holdings in Newell Brands by 112.5% in the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after acquiring an additional 7,331,309 shares during the period. Jennison Associates LLC acquired a new position in Newell Brands in the second quarter valued at approximately $124,839,000. Ameriprise Financial Inc. lifted its holdings in Newell Brands by 28.1% in the second quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock valued at $417,953,000 after acquiring an additional 1,709,917 shares during the period. FIL Ltd acquired a new position in Newell Brands in the second quarter valued at approximately $76,301,000. Finally, Vanguard Group Inc. lifted its holdings in Newell Brands by 2.8% in the second quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after acquiring an additional 1,305,820 shares during the period. 92.24% of the stock is owned by institutional investors.
In other news, CEO Michael B. Polk bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, with a total value of $218,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott S. Cowen bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average cost of $43.60 per share, with a total value of $87,200.00. Following the acquisition, 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. In the last three months, insiders acquired 7,100 shares of company stock valued at $309,715. Corporate insiders own 0.97% of the company’s stock.
Newell Brands announced that its board has approved a share buyback plan on Tuesday, September 26th that allows the company to repurchase $256.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are 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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