Newell Brands Inc. (NYSE:NWL) Declares Quarterly Dividend of $0.23
Newell Brands Inc. (NYSE:NWL) announced a quarterly dividend on Wednesday, August 9th, RTT News reports. Shareholders of record on Thursday, August 31st will be paid a dividend of 0.23 per share on Friday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 1.81%.
Newell Brands has raised its dividend payment by an average of 8.2% annually over the last three years. Newell Brands has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Newell Brands to earn $3.52 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 26.1%.
Shares of Newell Brands (NYSE:NWL) traded down 0.04% during midday trading on Wednesday, reaching $50.74. The company’s stock had a trading volume of 3,008,574 shares. The stock’s 50 day moving average price is $53.09 and its 200 day moving average price is $49.90. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 21.54 and a beta of 1.17. Newell Brands has a one year low of $43.43 and a one year high of $55.45.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. Analysts predict that Newell Brands will post $3.12 earnings per share for the current year.
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Several research firms have recently commented on NWL. UBS AG set a $60.00 price target on shares of Newell Brands and gave the company a “buy” rating in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Wednesday, July 12th. BidaskClub lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Jefferies Group LLC increased their price target on shares of Newell Brands from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, BMO Capital Markets set a $51.00 price target on shares of Newell Brands and gave the company a “hold” rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $58.07.
Newell Brands Company Profile
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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