Jefferies & Company Reports on Newell Rubbermaid

Jefferies & Company commented on Newell Rubbermaid NWL in a report released today. In the report, Jefferies was mixed in its assessment of the company. Jefferies writes, "Our 2011E ongoing EPS estimate is now $1.57, a dime below our previous $1.67 and +3.2% above the year-ago. We are below consensus $1.60 and mgt's recently lowered $1.60 - $1.67 range. The biggest factor of the drop is Q2, where we are now at $0.43, down -15.7% y-o-y, v. our previous expectation for about flat EPS. Consensus is $0.42. We have also taken a penny each out of our 3QE and 4QE forecasts." Jefferies currently has a Hold rating on Newell Rubbermaid and a price target of $16. Shares of Newell Rubbermaid closed at $14.35 on Thursday.