Newell Brands Inc. (NYSE:NWL)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued on Monday, August 7th, Marketbeat reports. They presently have a $65.00 price objective on the stock, down from their previous price objective of $66.00. Jefferies Group LLC’s price objective points to a potential upside of 30.89% from the stock’s previous close. Jefferies Group also issued estimates for Newell Brands’ Q3 2017 earnings at $1.01 EPS, Q4 2017 earnings at $0.94 EPS, FY2017 earnings at $3.16 EPS, FY2018 earnings at $3.71 EPS and FY2019 earnings at $4.32 EPS.
The analysts wrote, “NWL’s 2Q results were good (not great), but co. is broadly delivering against its plan with growth across geos (incl. 2% in US), enhanced scale in e-com, a war chest of cost synergies, and results poised to inflect in 2H (w/bigger innovation still to come in ’18). CEO Polk has charted a clear path fwd (w/strong track record of delivery) and NWL’s depressed multiple (12x ’19 P/E vs. 19x staples) creates an asymmetrical risk-reward. Remains a top pick – $65 PT. Mixed 2Q qtr impacted by tough retail env’t: The market was looking for 3% core sales growth in 2Q, so NWL’s +2.5% was a bit light, though would have been > 3% ex- retailer destocking in fishing/fresh preserving and a customer bankruptcy. Encouragingly, NWL’s growth was broad-based across its geos, the co. is gaining share (~60 bps YoY in the US), and results are poised to inflect in 2H (+3.5% vs. +2.5% in 2H) even ahead of any yield on the big investments on consumer insights (mid-2018).””
A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets set a $51.00 target price on shares of Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, August 1st. BidaskClub lowered shares of Newell Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $60.00 price target on shares of Newell Brands in a research note on Thursday, June 8th. One 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 assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.07.
Newell Brands (NYSE:NWL) traded down 0.98% during trading on Monday, hitting $49.66. 2,958,457 shares of the stock traded hands. Newell Brands has a 12 month low of $43.43 and a 12 month high of $55.08. The firm has a market cap of $24.34 billion, a PE ratio of 19.83 and a beta of 1.17. The firm has a 50-day moving average price of $52.25 and a 200 day moving average price of $50.17.
Newell Brands (NYSE:NWL) last posted its earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. Newell Brands’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Newell Brands will post $3.12 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. raised its stake in Newell Brands by 10.4% in the first quarter. Whittier Trust Co. now owns 5,737 shares of the company’s stock worth $271,000 after buying an additional 540 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in Newell Brands by 8.0% in the first quarter. Glen Harbor Capital Management LLC now owns 51,952 shares of the company’s stock worth $2,450,000 after buying an additional 3,842 shares during the last quarter. Quantbot Technologies LP raised its stake in Newell Brands by 396.0% in the first quarter. Quantbot Technologies LP now owns 87,695 shares of the company’s stock worth $4,136,000 after buying an additional 70,014 shares during the last quarter. Viking Fund Management LLC raised its stake in Newell Brands by 39.1% in the first quarter. Viking Fund Management LLC now owns 16,000 shares of the company’s stock worth $755,000 after buying an additional 4,500 shares during the last quarter. Finally, King Luther Capital Management Corp raised its stake in Newell Brands by 3.8% in the first quarter. King Luther Capital Management Corp now owns 3,172,430 shares of the company’s stock worth $149,644,000 after buying an additional 114,855 shares during the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.
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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