In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on Newell Brands (NWL). The company’s shares closed yesterday at $14.65, close to its 52-week low of $13.57.
Parikh wrote:
“Earlier this morning NWL reported Q1:19 adjusted EPS of $0.14, ahead of a Street forecast of $0.06. Core sales growth topped expectations with a decline of 2.4% vs. a Street figure of -3.5% and management guidance for a 2-4% decrease. Challenges persist, with core sales growth remaining negative in all three segments. On the positive side, management drove meaningful operating margin improvement, even with persistent top-line weakness, and reiterated full-year guidance. We continue to view NWL shares as fully valued based on our forecasts for ongoing earnings from continuing operations in the $1.20-ish range longer-term. We await signs of a top-line turn, which we believe is essential to drive a sustained move higher in the shares.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.7% and a 66.0% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Sprouts Farmers, and Ulta Beauty Inc.
Newell Brands has an analyst consensus of Moderate Buy, with a price target consensus of $18.60.
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Based on Newell Brands’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $135 million. In comparison, last year the company had a net profit of $53.3 million.
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Newell Brands, Inc. engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Food and Appliances; Home and Outdoor Living; and Learning and Development.
