Shares of Newell Brands Plunge 25% After Missing Estimates and Lowering Guidance
Shares of Newell Brands Inc. (NYSE: NWL), a household products company boasting well-known brands such as Rubbermaid, Paper Mate, and Sharpie, among many others, are shedding roughly a quarter of their value Thursday after the company missed estimates and lowered guidance.
Third-quarter revenue dropped 7% to $3.68 billion, which also checked in below the analysts' estimates calling for $3.71 billion. Excluding one-time items, Newell's adjusted earnings per share checked in at $0.86, also below analysts' calling for $0.92 per share.
"Newell Brands third quarter results were below expectations as our transformation progress was overshadowed by weak late-quarter sales related to retailer inventory rebalancing, primarily in response to decelerating U.S. market growth through the Back-to-School period," said Michael Polk, Newell Brands' CEO, in a press release.
Source: Fool.com
Newell Rubbermaid Aktie
Balancierte Ansichten bei der Newell Rubbermaid Aktie: Gleich viele Buy- und Sell-Einschätzungen.
Für Newell Rubbermaid sieht die Community ein Kursziel von 9 €, was eine erhebliche Steigerung um über 50% gegenüber dem aktuellen Kurs von 5.8 € bedeutet.
