Newell Brands (NWL) Earns “Hold” Rating from Jefferies Financial Group
Jefferies Financial Group reiterated their hold rating on shares of Newell Brands (NYSE:NWL) in a research report report published on Thursday. Jefferies Financial Group currently has a $15.00 target price on the stock.
“NWL announced that CEO, Mike Polk, will retire at the end of 2Q and that the co. will consider internal/external candidates to replace him. The news should not come as a big surprise given myriad issues (many self-inflicted, others external) that have plagued Mr. Polk’s tenure since the JAH deal. NWL’s CFO, C. Peterson, brings ops. exp. and is the likely front-runner to replace Mr. Polk, in our view. NWL may get sentiment lift, but turnaround will take time.”,” Jefferies Financial Group’s analyst wrote.
Other analysts have also recently issued research reports about the stock. Citigroup set a $24.00 target price on shares of Newell Brands and gave the company a buy rating in a report on Wednesday, February 20th. Zacks Investment Research raised shares of Newell Brands from a hold rating to a buy rating and set a $24.00 target price on the stock in a report on Monday, February 18th. Wells Fargo & Co reaffirmed a buy rating and issued a $36.00 target price on shares of Newell Brands in a report on Thursday, December 20th. Barclays set a $16.00 price target on shares of Newell Brands and gave the company a hold rating in a research note on Tuesday, February 19th. Finally, Royal Bank of Canada dropped their price target on shares of Newell Brands from $24.00 to $20.00 and set a sector perform rating on the stock in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Newell Brands presently has an average rating of Hold and an average price target of $22.08.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, February 15th. The company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.30. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. As a group, analysts predict that Newell Brands will post 1.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were paid a $0.23 dividend. The ex-dividend date was Wednesday, February 27th. This represents a $0.92 annualized dividend and a yield of 5.91%. Newell Brands’s dividend payout ratio is currently 33.45%.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Newell Brands by 8.4% in the fourth quarter. BlackRock Inc. now owns 44,659,043 shares of the company’s stock valued at $830,211,000 after purchasing an additional 3,470,954 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Newell Brands by 9.4% during the fourth quarter. Pzena Investment Management LLC now owns 18,304,339 shares of the company’s stock worth $340,278,000 after acquiring an additional 1,577,306 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Newell Brands by 15.7% during the third quarter. Bank of New York Mellon Corp now owns 14,040,672 shares of the company’s stock worth $285,027,000 after acquiring an additional 1,906,362 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Newell Brands by 4,814.0% during the third quarter. Franklin Resources Inc. now owns 11,308,700 shares of the company’s stock worth $229,568,000 after acquiring an additional 11,078,567 shares during the last quarter. Finally, FMR LLC grew its position in shares of Newell Brands by 7.2% during the third quarter. FMR LLC now owns 7,543,540 shares of the company’s stock worth $153,134,000 after acquiring an additional 507,125 shares during the last quarter. Institutional investors own 98.42% of the company’s stock.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
Further Reading: Quiet Period
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