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Newell Brands Inc. (NWL) - free report >>
Ollie's Bargain Outlet Holdings, Inc. (OLLI) - free report >>
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Newell Brands Inc. (NWL) - free report >>
Ollie's Bargain Outlet Holdings, Inc. (OLLI) - free report >>
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Newell Brands (NWL) Soars 6.0%: Is Further Upside Left in the Stock?
Newell Brands (NWL - Free Report) shares ended the last trading session 6% higher at $8.18. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.5% loss over the past four weeks.
Newell's focus on revenue-growth management, aggressive efforts to reduce SKU as well as supply network optimization have been driving its performance. The company is undertaking significant actions to accelerate productivity and efficiency through cost-saving plans, driving automation and fully implementing Project Ovid.
This consumer products company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -16.7%. Revenues are expected to be $1.64 billion, down 8.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Newell Brands, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NWL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Newell Brands is part of the Zacks Consumer Products - Staples industry. Ollie's Bargain Outlet (OLLI - Free Report) , another stock in the same industry, closed the last trading session 0.9% lower at $74. OLLI has returned -2.6% in the past month.
Ollie's Bargain Outlet's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.16. Compared to the company's year-ago EPS, this represents a change of +38.1%. Ollie's Bargain Outlet currently boasts a Zacks Rank of #3.