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August 25, 2014
08:16 EDTFBHSFortune Brands may be flexible as M&A heats up, says RW Baird
Baird said Fortune Brands has used its cash for stock buybacks and M&A and as the environment heats up shareholders may see more acquisitions to come. The firm likes the stock, citing its balance sheet and high quality exposure to the housing recovery and keeps an Outperform rating with a $46 price target on the shares.
News For FBHS From The Last 14 Days
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October 29, 2014
16:09 EDTFBHSFortune Brands sees 2014 ex-items $1.84-$1.86, consensus $1.89
Fortune Brands said tis 2014 annual outlook is based on a slower U.S. home products market growth assumption of 4%-5% for Q4. Based on the company’s expectation to continue outperforming the market, the company expects full-year 2014 net sales to increase approximately 8%. The company said, "“Although we are seeing growth in both new construction and consumer spending on remodel projects, that growth is at the low end of our last estimates. Regardless, we continue to gain share, our core businesses are performing well and we are well-positioned for higher growth in 2015. Importantly, we also remain sharply focused on driving incremental shareholder value with our cash flow and balance sheet."
16:08 EDTFBHSFortune Brands reports Q3 ex-items EPS 55c, consensus 56c
Reports Q3 revenue $1.1B, consensus $1.17B.

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