Analysts forecast that Newell Brands Inc (NYSE:NWL) will post sales of $2.34 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Newell Brands’ earnings. The lowest sales estimate is $2.31 billion and the highest is $2.36 billion. Newell Brands posted sales of $3.68 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 36.4%. The business is scheduled to report its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Newell Brands will report full year sales of $8.82 billion for the current year, with estimates ranging from $8.76 billion to $8.88 billion. For the next year, analysts forecast that the firm will report sales of $9.01 billion per share, with estimates ranging from $8.92 billion to $9.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Newell Brands.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Monday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $3.83 billion. Newell Brands had a return on equity of 9.58% and a net margin of 16.39%. The company’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS.
Shares of NYSE:NWL opened at $21.84 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.17 and a quick ratio of 2.74. The stock has a market cap of $10.32 billion, a P/E ratio of 7.94, a price-to-earnings-growth ratio of 5.08 and a beta of 0.63. Newell Brands has a 12-month low of $20.21 and a 12-month high of $43.99.
Newell Brands declared that its Board of Directors has approved a share repurchase plan on Monday, June 11th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to repurchase up to 19.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Thursday, August 30th. Newell Brands’s dividend payout ratio (DPR) is 33.45%.
In other news, CEO Michael B. Polk bought 10,000 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was bought at an average cost of $20.63 per share, for a total transaction of $206,300.00. Following the acquisition, the chief executive officer now directly owns 941,951 shares of the company’s stock, valued at approximately $19,432,449.13. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Craigie bought 11,500 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were purchased at an average price of $21.33 per share, with a total value of $245,295.00. Following the completion of the acquisition, the director now directly owns 14,081 shares in the company, valued at $300,347.73. The disclosure for this purchase can be found here. Company insiders own 0.97% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NWL. Northwest Wealth Management LLC boosted its stake in shares of Newell Brands by 5,180.7% in the 2nd quarter. Northwest Wealth Management LLC now owns 4,383 shares of the company’s stock valued at $113,000 after buying an additional 4,300 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Newell Brands in the 2nd quarter valued at about $146,000. Qube Research & Technologies Ltd purchased a new position in shares of Newell Brands in the 2nd quarter valued at about $149,000. BlueMountain Capital Management LLC purchased a new position in shares of Newell Brands in the 2nd quarter valued at about $151,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Newell Brands in the 1st quarter valued at about $211,000. Institutional investors own 97.72% of the company’s stock.
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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