Newell Brands Inc (NYSE:NWL) – Investment analysts at Jefferies Financial Group lifted their FY2018 earnings estimates for shares of Newell Brands in a report issued on Sunday, November 4th. Jefferies Financial Group analyst K. Grundy now expects that the company will post earnings per share of $1.24 for the year, up from their prior forecast of $0.91. Jefferies Financial Group has a “Hold” rating and a $20.00 price objective on the stock. Jefferies Financial Group also issued estimates for Newell Brands’ Q4 2018 earnings at $0.42 EPS.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, November 2nd. The company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.55. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.34 billion. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.51%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS.
NWL opened at $20.21 on Wednesday. The firm has a market cap of $9.43 billion, a P/E ratio of 7.35, a PEG ratio of 3.59 and a beta of 0.82. Newell Brands has a twelve month low of $15.11 and a twelve month high of $32.58. The company has a quick ratio of 2.44, a current ratio of 2.87 and a debt-to-equity ratio of 1.49.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley boosted its holdings in shares of Newell Brands by 6.0% in the 2nd quarter. Morgan Stanley now owns 3,354,254 shares of the company’s stock valued at $86,507,000 after buying an additional 190,217 shares during the period. Manning & Napier Group LLC lifted its position in Newell Brands by 46.0% in the 3rd quarter. Manning & Napier Group LLC now owns 155,902 shares of the company’s stock valued at $3,164,000 after purchasing an additional 49,099 shares during the last quarter. Bank of Montreal Can lifted its position in Newell Brands by 14.7% in the 3rd quarter. Bank of Montreal Can now owns 676,711 shares of the company’s stock valued at $13,737,000 after purchasing an additional 86,867 shares during the last quarter. 22NW LP bought a new stake in Newell Brands in the 2nd quarter valued at about $4,011,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Newell Brands by 7.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,370 shares of the company’s stock valued at $10,325,000 after purchasing an additional 29,285 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.
In other Newell Brands news, CEO Michael B. Polk purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $20.63 per share, with a total value of $206,300.00. Following the acquisition, the chief executive officer now owns 941,951 shares of the company’s stock, valued at approximately $19,432,449.13. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by company insiders.
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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