Newell Brands Inc. (NYSE:NWL) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Newell Brands Inc. (NYSE:NWL) from a buy rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “Newell Brands outperformed the Zacks categorized industry on a year-to-date basis, on the back of its splendid earnings surprise history. Notably, Newell has delivered positive earnings surprise for almost seven years now. Further, the company remains on track with its Project Renewal Program, which is likely to generate annual cost savings of nearly $700 million by 2017 or early 2018. The company has also made significant progress on its Growth Game Plan that targets accelerating growth by simplifying and strengthening its portfolio. Also, the company’s recent dividend hike and raised normalized earnings guidance for 2017 reflect confidence in future prospects. However, the company’s significant global presence exposes it to currency woes, and any further prevalence of these headwinds in the future is likely to hurt results. Nonetheless, estimates have risen lately, ahead of the company's second quarter earnings release.”
Other equities analysts have also issued reports about the stock. Wells Fargo & Company reiterated a buy rating on shares of Newell Brands in a research note on Saturday, April 22nd. B. Riley reiterated a buy rating and issued a $71.00 price target on shares of Newell Brands in a research note on Friday, April 14th. UBS AG set a $60.00 price target on shares of Newell Brands and gave the company a buy rating in a research note on Tuesday, May 9th. 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 note on Tuesday, May 9th. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $60.00 price target on shares of Newell Brands in a research note on Thursday, June 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Newell Brands has a consensus rating of Buy and a consensus target price of $58.56.
Newell Brands (NYSE:NWL) traded down 0.13% during mid-day trading on Friday, reaching $52.65. 834,242 shares of the company were exchanged. The stock has a 50-day moving average of $53.31 and a 200 day moving average of $49.82. Newell Brands has a 1-year low of $43.43 and a 1-year high of $55.45. The firm has a market capitalization of $25.44 billion, a P/E ratio of 22.35 and a beta of 1.17.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Newell Brands had a net margin of 7.40% and a return on equity of 11.07%. The firm’s revenue was up 148.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. Equities research analysts forecast that Newell Brands will post $3.12 earnings per share for the current year.
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In other news, Director Thomas E. Clarke sold 5,353 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $52.49, for a total value of $280,978.97. Following the completion of the sale, the director now directly owns 66,286 shares of the company’s stock, valued at $3,479,352.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of NWL. Fifth Third Bancorp increased its stake in shares of Newell Brands by 0.5% in the first quarter. Fifth Third Bancorp now owns 7,137 shares of the company’s stock valued at $337,000 after buying an additional 39 shares in the last quarter. Cleararc Capital Inc. increased its stake in shares of Newell Brands by 0.5% in the first quarter. Cleararc Capital Inc. now owns 10,902 shares of the company’s stock valued at $514,000 after buying an additional 51 shares in the last quarter. Savant Capital LLC increased its stake in shares of Newell Brands by 1.9% in the first quarter. Savant Capital LLC now owns 4,868 shares of the company’s stock valued at $230,000 after buying an additional 90 shares in the last quarter. FTB Advisors Inc. increased its stake in shares of Newell Brands by 1.9% in the first quarter. FTB Advisors Inc. now owns 7,088 shares of the company’s stock valued at $334,000 after buying an additional 134 shares in the last quarter. Finally, United Asset Strategies Inc. increased its stake in shares of Newell Brands by 2.8% in the first quarter. United Asset Strategies Inc. now owns 4,887 shares of the company’s stock valued at $231,000 after buying an additional 135 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.
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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