Newell Brands (NWL) Coverage Initiated by Analysts at Deutsche Bank
Other analysts have also issued research reports about the stock. KeyCorp set a $60.00 target price on shares of Newell Brands and gave the stock a buy rating in a research note on Monday, October 16th. Forward View restated a buy rating and set a $58.00 price target on shares of Newell Brands in a research report on Monday, September 11th. Jefferies Group dropped their price objective on shares of Newell Brands from $65.00 to $63.00 and set a buy rating on the stock in a report on Thursday, September 7th. They noted that the move was a valuation call. Citigroup lowered their price target on shares of Newell Brands from $63.00 to $42.00 and set a buy rating on the stock in a report on Friday, November 3rd. Finally, Barclays reissued a buy rating and issued a $35.00 price target on shares of Newell Brands in a report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Newell Brands currently has a consensus rating of Hold and a consensus target price of $46.73.
Newell Brands (NYSE:NWL) traded up $0.24 during midday trading on Wednesday, hitting $31.40. 3,962,900 shares of the stock traded hands, compared to its average volume of 4,784,912. Newell Brands has a 12-month low of $27.45 and a 12-month high of $55.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46. The company has a market cap of $15,270.88, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10.
Newell Brands (NYSE:NWL) last posted its earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. equities analysts forecast that Newell Brands will post 2.81 EPS for the current fiscal year.
Newell Brands announced that its Board of Directors has approved a share repurchase program on Tuesday, September 26th that allows the company to repurchase $256.00 million in shares. This repurchase authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s payout ratio is 35.52%.
In other Newell Brands news, CEO Michael B. Polk purchased 7,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $28.22 per share, with a total value of $197,540.00. Following the completion of the purchase, the chief executive officer now directly owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NWL. BDO Wealth Advisors LLC bought a new stake in Newell Brands in the 2nd quarter worth about $107,000. Parkside Investments LLC bought a new stake in Newell Brands in the 3rd quarter worth about $107,000. Harfst & Associates Inc. increased its holdings in Newell Brands by 14.4% in the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock worth $134,000 after buying an additional 315 shares in the last quarter. BB&T Investment Services Inc. bought a new stake in Newell Brands in the 2nd quarter worth about $143,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Newell Brands by 52.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock worth $169,000 after buying an additional 1,088 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.
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About Newell Brands
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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