NEW YORK (TheStreet) -- Newell Rubbermaid (NWL) shares are up 4.98% to $40.03 in early market trading on Friday after the consumer products manufacturer reported mixed first quarter financial results before the opening bell today.
The Atlanta-based company reported first quarter net income of $54.1 million, or 36 cents per diluted share on an adjusted basis, on revenue that rose 4.1% over the year ago period to $1.26 billion. Analysts on average were expecting the company to report earnings of 34 cents per share on revenue of $1.27 billion.
For the full year the company reaffirmed its earnings forecast of between $2.10 and $2.18 per share, in line with analysts' $2.15 per share expectations. Revenue is expected to be between $5.93 billion and $5.98 billion versus the $5.93 billion consensus expectations.
TheStreet Ratings team rates NEWELL RUBBERMAID INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NEWELL RUBBERMAID INC (NWL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: NWL Ratings Report