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Newell Brands Looks Promising: Invest in the Stock Now
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Newell Brands Inc. (NWL - Free Report) , one of the leading global manufacturers and marketers of home and office products, has emerged as an attractive investment opportunity for investors, backed by its strong portfolio of well-established brands such as Sharpie, Parker, Waterman, Lenox, and many more. The merger with Jarden Corp. has further strengthened its position. The stock, which flaunts a Zacks Rank #1 (Strong Buy), has gained roughly 9% year to date and is hovering close to its 52-week high of $50.90 attained last December.
Newell commenced 2016 on a high note with first-quarter adjusted earnings of 40 cents per share surpassing the Zacks Consensus Estimate of 36 cents and increasing 11.1% year over year. Net sales grew 4% to 1,314.9 million and also exceeded the Zacks Consensus Estimate of $1,283 million.
Newell’s earnings history further gives us a spectacular picture as the company has outperformed the Zacks Consensus Estimate in 26 out of the past 28 quarters. Over the trailing four quarters, it beat the Zacks Consensus Estimate by an average of 4%.
Management now projects core sales growth of 3–4% and anticipates normalized earnings in the range of $2.75–$2.90 per share for 2016. Following better-than-expected results and an upbeat outlook, the Zacks Consensus Estimate of $2.84 and $3.04 for 2016 and 2017 has increased 50 cents and 47 cents, respectively, over the past 60 days.
Newell has been gaining strength from its solid growth momentum, benefits from the Project Renewal program, persistent cost savings and splendid performance across all segments. Management plans to utilize a major portion of its savings to accelerate growth by investing the same in business, while the leftover balance from its cost savings are expected to reflect in the bottom line.
Other Stocks to Consider
Some other favorably ranked stocks in the retail sector include Delta Apparel Inc. , sporting a Zacks Rank #1, and The Children's Place, Inc. (PLCE - Free Report) and Carter's, Inc. (CRI - Free Report) , both holding a Zacks Rank #2 (Buy).
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Newell Brands Looks Promising: Invest in the Stock Now
Newell Brands Inc. (NWL - Free Report) , one of the leading global manufacturers and marketers of home and office products, has emerged as an attractive investment opportunity for investors, backed by its strong portfolio of well-established brands such as Sharpie, Parker, Waterman, Lenox, and many more. The merger with Jarden Corp. has further strengthened its position. The stock, which flaunts a Zacks Rank #1 (Strong Buy), has gained roughly 9% year to date and is hovering close to its 52-week high of $50.90 attained last December.
Newell commenced 2016 on a high note with first-quarter adjusted earnings of 40 cents per share surpassing the Zacks Consensus Estimate of 36 cents and increasing 11.1% year over year. Net sales grew 4% to 1,314.9 million and also exceeded the Zacks Consensus Estimate of $1,283 million.
Newell’s earnings history further gives us a spectacular picture as the company has outperformed the Zacks Consensus Estimate in 26 out of the past 28 quarters. Over the trailing four quarters, it beat the Zacks Consensus Estimate by an average of 4%.
Management now projects core sales growth of 3–4% and anticipates normalized earnings in the range of $2.75–$2.90 per share for 2016. Following better-than-expected results and an upbeat outlook, the Zacks Consensus Estimate of $2.84 and $3.04 for 2016 and 2017 has increased 50 cents and 47 cents, respectively, over the past 60 days.
NEWELL BRANDS Price, Consensus and EPS Surprise
NEWELL BRANDS Price, Consensus and EPS Surprise | NEWELL BRANDS Quote
Newell has been gaining strength from its solid growth momentum, benefits from the Project Renewal program, persistent cost savings and splendid performance across all segments. Management plans to utilize a major portion of its savings to accelerate growth by investing the same in business, while the leftover balance from its cost savings are expected to reflect in the bottom line.
Other Stocks to Consider
Some other favorably ranked stocks in the retail sector include Delta Apparel Inc. , sporting a Zacks Rank #1, and The Children's Place, Inc. (PLCE - Free Report) and Carter's, Inc. (CRI - Free Report) , both holding a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>