Jefferies Lowers EPS On Newell Rubbermaid

According to Jefferies, Newell Rubbermaid 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.