Wall Street analysts expect that Newell Brands Inc (NYSE:NWL) will report $2.44 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Newell Brands’ earnings, with the lowest sales estimate coming in at $2.43 billion and the highest estimate coming in at $2.45 billion. Newell Brands reported sales of $2.28 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 7%. The business is scheduled to issue its next quarterly earnings report on Friday, November 1st.
On average, analysts expect that Newell Brands will report full year sales of $9.25 billion for the current fiscal year, with estimates ranging from $9.22 billion to $9.29 billion. For the next financial year, analysts forecast that the company will post sales of $9.33 billion, with estimates ranging from $9.17 billion to $9.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Newell Brands.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. During the same quarter in the prior year, the firm posted $0.82 EPS.
Several research firms have recently weighed in on NWL. Barclays reiterated a “hold” rating on shares of Newell Brands in a research note on Wednesday, August 7th. Wells Fargo & Co reiterated a “buy” rating on shares of Newell Brands in a research note on Wednesday, July 31st. Deutsche Bank lowered their price objective on Newell Brands from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, Consumer Edge began coverage on Newell Brands in a research report on Wednesday, July 3rd. They set a “hold” rating on the stock. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $20.30.
Newell Brands stock traded down $0.17 during trading hours on Wednesday, hitting $17.70. The stock had a trading volume of 2,817,506 shares, compared to its average volume of 5,881,712. Newell Brands has a fifty-two week low of $13.04 and a fifty-two week high of $24.57. The company has a market cap of $7.49 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90. The company has a 50-day moving average of $16.54 and a two-hundred day moving average of $15.42. The company has a quick ratio of 2.53, a current ratio of 2.98 and a debt-to-equity ratio of 1.54.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend was Thursday, August 29th. Newell Brands’s dividend payout ratio (DPR) is currently 33.45%.
In related news, Director Michael Todman purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $15.76 per share, with a total value of $78,800.00. Following the purchase, the director now directly owns 72,184 shares in the company, valued at approximately $1,137,619.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.
Several hedge funds have recently bought and sold shares of NWL. Nuveen Asset Management LLC lifted its stake in shares of Newell Brands by 278.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,390,300 shares of the company’s stock valued at $98,539,000 after purchasing an additional 4,703,845 shares during the period. BlackRock Inc. raised its stake in Newell Brands by 8.3% during the 2nd quarter. BlackRock Inc. now owns 48,793,194 shares of the company’s stock worth $752,391,000 after buying an additional 3,743,507 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Newell Brands by 150.9% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,101,790 shares of the company’s stock worth $78,670,000 after buying an additional 3,068,565 shares during the period. Invesco Ltd. raised its stake in Newell Brands by 59.2% during the 2nd quarter. Invesco Ltd. now owns 5,582,044 shares of the company’s stock worth $86,075,000 after buying an additional 2,074,771 shares during the period. Finally, Marshall Wace LLP raised its stake in Newell Brands by 7,163.2% during the 1st quarter. Marshall Wace LLP now owns 1,264,094 shares of the company’s stock worth $19,390,000 after buying an additional 1,246,690 shares during the period. 98.42% of the stock is currently owned by institutional investors.
About Newell Brands
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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