Newell Brands Inc. (NWL) Releases Earnings Results, Beats Estimates By $0.01 EPS
Newell Brands Inc. (NYSE:NWL) released its quarterly earnings data on Friday. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01, Bloomberg Earnings reports. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a return on equity of 11.07% and a net margin of 7.40%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. Newell Brands updated its FY17 guidance to $3.00-3.20 EPS.
Shares of Newell Brands (NYSE NWL) opened at 50.69 on Friday. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 21.52 and a beta of 1.17. The firm’s 50-day moving average price is $53.31 and its 200-day moving average price is $49.86. Newell Brands has a 52 week low of $43.43 and a 52 week high of $55.45.
A number of equities analysts have recently commented on NWL shares. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Tuesday, April 11th. BidaskClub lowered Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. B. Riley reiterated a “buy” rating and issued a $71.00 target price on shares of Newell Brands in a research note on Friday, April 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of Newell Brands in a research note on Thursday, June 8th. Finally, UBS AG set a $60.00 target price on Newell Brands and gave the company a “buy” rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $58.29.
In other news, Director Thomas E. Clarke sold 5,353 shares of Newell Brands stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $52.49, for a total value of $280,978.97. Following the transaction, the director now directly owns 66,286 shares in the company, valued at $3,479,352.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Harfst & Associates Inc. acquired a new position in Newell Brands during the first quarter worth approximately $103,000. Israel Discount Bank of New York acquired a new position in Newell Brands during the first quarter worth approximately $112,000. Parallel Advisors LLC raised its position in Newell Brands by 23.0% in the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after buying an additional 544 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Newell Brands during the first quarter worth approximately $156,000. Finally, CHICAGO TRUST Co NA acquired a new position in Newell Brands during the second quarter worth approximately $204,000. Institutional investors and hedge funds own 94.28% of the company’s stock.
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Newell Brands Company Profile
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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