Newell Brands Inc. (NASDAQ:NWL – Get Rating) – Analysts at Jefferies Financial Group lowered their FY2024 earnings per share estimates for Newell Brands in a note issued to investors on Sunday, July 31st. Jefferies Financial Group analyst K. Grundy now forecasts that the company will post earnings per share of $2.82 for the year, down from their previous forecast of $2.97. The consensus estimate for Newell Brands’ current full-year earnings is $1.84 per share.
Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reduced their target price on Newell Brands from $25.00 to $22.00 and set a “hold” rating for the company in a report on Tuesday, June 21st. Barclays reduced their target price on Newell Brands from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday. Raymond James reduced their target price on Newell Brands from $33.00 to $28.00 and set a “strong-buy” rating for the company in a report on Monday, April 18th. Morgan Stanley dropped their price target on Newell Brands from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price target on Newell Brands from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.86.
Newell Brands Price Performance
Newell Brands (NASDAQ:NWL – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. Newell Brands had a return on equity of 19.96% and a net margin of 6.89%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis.
Institutional Trading of Newell Brands
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. increased its position in Newell Brands by 2.0% during the 1st quarter. Xponance Inc. now owns 23,896 shares of the company’s stock worth $512,000 after purchasing an additional 461 shares in the last quarter. Securian Asset Management Inc. grew its holdings in Newell Brands by 1.6% in the 4th quarter. Securian Asset Management Inc. now owns 31,963 shares of the company’s stock valued at $698,000 after buying an additional 496 shares during the period. Mutual of America Capital Management LLC grew its holdings in Newell Brands by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 50,553 shares of the company’s stock valued at $1,082,000 after buying an additional 532 shares during the period. Mariner LLC grew its holdings in Newell Brands by 3.3% in the 1st quarter. Mariner LLC now owns 16,544 shares of the company’s stock valued at $355,000 after buying an additional 532 shares during the period. Finally, Stephens Inc. AR grew its holdings in Newell Brands by 6.2% in the 1st quarter. Stephens Inc. AR now owns 9,787 shares of the company’s stock valued at $210,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 84.07% of the company’s stock.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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