Newell Rubbermaid Inc. received an “average” reiteration today from securities research analysts at investment firm Caris & Company. Caris also lowered their performance outlook for Newell Rubbermaid by adjusting their price target from $19 to $16.50 dollars. Reasoning for the adjusted target is that Newell Rubbermaid announced 2Q11 EPS would not meet consensus and lowered their own 2011 guidance. Caris noted they anticipate the company will announce their new CEO soon that could result in a heightening of share valuation thereafter.
Notably, Caris & Company is not the only firm which lowered their price target, as Longbow did today as well. Longbow has NWL pegged at $21 – a drop of two dollars. Longbow however maintains their “buy” rating for the company.
Newell is slated to release their next earnings report on July 29th, 2011 and is estimated to post EPS of 42 cents. Their last earnings report was released on April 29th, 2011 and announced EPS of 30 cents. NWL gapped south at the market open this morning and is trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Newell Rubbermaid is a global marketer of consumer and commercial products that conducts business in the household durables industry. The company has market capitalization of $4,178,720,000 and 291,200,000 shares outstanding. NWL has a 52-week high of $20.38 with the low being $14.14 dollars.