Jefferies Lowers EPS On Newell Rubbermaid

According to Jefferies, Newell Rubbermaid (NYSE: NWL) EPS is lowered.

Jefferies said that, despite the EPS beat v. estimates in the 2Q, it is slightly lowering its full year 2011 EPS estimates as it sees the back-half of the year to be below its previous expectations, driven primarily by lower profitability partially offset by higher FX-driven sales growth. “Our $16 PT is 9x-10x our 2012E EPS estimate of $1.70, below its five-year average of 12x with a range of 4x-18x, due to current pressures from slow growth categories and input cost inflation.”

Newell Rubbermaid closed yesterday at $15.22.