Zacks: Analysts Expect Newell Brands Inc. (NASDAQ:NWL) Will Post Quarterly Sales of $2.54 Billion

Wall Street analysts expect Newell Brands Inc. (NASDAQ:NWL) to report $2.54 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Newell Brands’ earnings. The lowest sales estimate is $2.51 billion and the highest is $2.58 billion. Newell Brands reported sales of $2.11 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.4%. The firm is scheduled to issue its next quarterly earnings results on Friday, July 30th.

According to Zacks, analysts expect that Newell Brands will report full year sales of $10.11 billion for the current financial year, with estimates ranging from $9.98 billion to $10.34 billion. For the next year, analysts anticipate that the business will post sales of $10.27 billion, with estimates ranging from $9.89 billion to $10.51 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Newell Brands.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Thursday, April 29th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.17. Newell Brands had a return on equity of 22.60% and a net margin of 6.11%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis.

Several brokerages have commented on NWL. TheStreet raised Newell Brands from a “c+” rating to a “b” rating in a research report on Friday, April 30th. Truist lifted their price target on Newell Brands from $30.00 to $35.00 in a research report on Monday, May 3rd. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, May 5th. JPMorgan Chase & Co. lifted their price target on Newell Brands from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, April 16th. Finally, Morgan Stanley lifted their price target on Newell Brands from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, May 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $25.50.

NASDAQ NWL traded up $0.55 during trading on Monday, hitting $26.54. The company’s stock had a trading volume of 1,949,958 shares, compared to its average volume of 2,708,411. The company has a current ratio of 1.30, a quick ratio of 0.74 and a debt-to-equity ratio of 1.33. The business’s 50 day moving average is $27.78. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 18.56 and a beta of 0.95. Newell Brands has a 52 week low of $14.81 and a 52 week high of $30.10.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Monday, May 31st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Thursday, May 27th. Newell Brands’s dividend payout ratio is presently 51.40%.

In other Newell Brands news, CFO Christopher H. Peterson sold 39,378 shares of the company’s stock in a transaction on Friday, May 7th. The stock was sold at an average price of $29.30, for a total value of $1,153,775.40. Following the sale, the chief financial officer now directly owns 113,101 shares in the company, valued at $3,313,859.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

A number of large investors have recently made changes to their positions in NWL. Amundi Pioneer Asset Management Inc. grew its position in Newell Brands by 18.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 292,619 shares of the company’s stock valued at $4,488,000 after acquiring an additional 45,706 shares during the period. California Public Employees Retirement System boosted its stake in Newell Brands by 7.4% in the fourth quarter. California Public Employees Retirement System now owns 980,738 shares of the company’s stock worth $20,821,000 after purchasing an additional 67,289 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Newell Brands by 5.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 18,831 shares of the company’s stock worth $400,000 after purchasing an additional 889 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Newell Brands by 2.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 282,574 shares of the company’s stock worth $5,999,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Graves Light Private Wealth Management Inc. acquired a new position in Newell Brands in the fourth quarter worth $64,000. Hedge funds and other institutional investors own 85.58% of the company’s stock.

About Newell Brands

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. Its Appliances and Cookware segment offers household products, including kitchen appliances, gourmet cookware, bakeware, and cutlery under the Calphalon, Crock-Pot, Mr. Coffee, Oster, and Sunbeam brands.

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