Fortune Brands Home & Security Inc (NYSE:FBHS) Expected to Announce Quarterly Sales of $1.50 Billion

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Wall Street brokerages expect Fortune Brands Home & Security Inc (NYSE:FBHS) to post $1.50 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Fortune Brands Home & Security’s earnings, with estimates ranging from $1.49 billion to $1.52 billion. Fortune Brands Home & Security posted sales of $1.38 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.7%. The company is expected to report its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Fortune Brands Home & Security will report full year sales of $5.82 billion for the current year, with estimates ranging from $5.79 billion to $5.87 billion. For the next financial year, analysts expect that the firm will report sales of $6.05 billion, with estimates ranging from $6.01 billion to $6.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Fortune Brands Home & Security.

Fortune Brands Home & Security (NYSE:FBHS) last announced its earnings results on Thursday, August 1st. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.03. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortune Brands Home & Security had a net margin of 7.22% and a return on equity of 21.81%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 earnings per share.

FBHS has been the topic of a number of recent research reports. Loop Capital lowered shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $50.00 price target on the stock. in a research report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Fortune Brands Home & Security from a “hold” rating to a “sell” rating and set a $54.00 price target on the stock. in a research report on Monday, August 5th. ValuEngine upgraded shares of Fortune Brands Home & Security from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Bank of America upgraded shares of Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $64.00 in a research report on Monday, May 6th. Finally, TheStreet upgraded shares of Fortune Brands Home & Security from a “c+” rating to a “b-” rating in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Fortune Brands Home & Security presently has an average rating of “Hold” and an average price target of $54.30.

FBHS opened at $49.56 on Tuesday. The firm has a market capitalization of $7.31 billion, a PE ratio of 15.14, a PEG ratio of 1.59 and a beta of 1.54. Fortune Brands Home & Security has a twelve month low of $35.27 and a twelve month high of $58.15. The firm’s 50-day moving average price is $53.51 and its 200 day moving average price is $51.01. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 0.77.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, August 29th. Fortune Brands Home & Security’s dividend payout ratio (DPR) is presently 26.35%.

In other Fortune Brands Home & Security news, Director A D. David Mackay sold 10,000 shares of Fortune Brands Home & Security stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $50.40, for a total transaction of $504,000.00. Following the transaction, the director now directly owns 11,532 shares of the company’s stock, valued at $581,212.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald V. Waters sold 5,000 shares of Fortune Brands Home & Security stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $56.74, for a total transaction of $283,700.00. Following the transaction, the director now directly owns 11,589 shares in the company, valued at $657,559.86. The disclosure for this sale can be found here. 1.63% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of FBHS. Putnam Investments LLC raised its stake in shares of Fortune Brands Home & Security by 1,568.5% in the 2nd quarter. Putnam Investments LLC now owns 2,772,750 shares of the industrial products company’s stock valued at $158,407,000 after acquiring an additional 2,606,572 shares during the period. Holocene Advisors LP raised its stake in shares of Fortune Brands Home & Security by 334.3% in the 2nd quarter. Holocene Advisors LP now owns 1,533,278 shares of the industrial products company’s stock valued at $87,596,000 after acquiring an additional 1,180,254 shares during the period. Pictet Asset Management Ltd. raised its stake in shares of Fortune Brands Home & Security by 37.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 3,542,182 shares of the industrial products company’s stock valued at $202,365,000 after acquiring an additional 971,613 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Fortune Brands Home & Security by 9.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,507,936 shares of the industrial products company’s stock valued at $476,103,000 after acquiring an additional 706,944 shares during the period. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Fortune Brands Home & Security in the 2nd quarter valued at approximately $32,493,000. 88.10% of the stock is currently owned by institutional investors.

About Fortune Brands Home & Security

Fortune Brands Home & Security, Inc, together with its subsidiaries, provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in three segments: Cabinets, Plumbing, and Doors & Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, as well as vanities for the kitchen, bath, and other parts of the home directly to kitchen and bath dealers, home centers, wholesalers, and builders in North America.

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