Newell Brands’ (NWL) Top Pick Rating Reiterated at Royal Bank Of Canada
NWL has been the topic of several other research reports. Wells Fargo & Company lowered Newell Brands from an outperform rating to a market perform rating and set a $50.00 price target on the stock. in a report on Monday, May 1st. BMO Capital Markets set a $51.00 price target on Newell Brands and gave the stock a hold rating in a report on Saturday, August 5th. J P Morgan Chase & Co set a $61.00 price target on Newell Brands and gave the stock a buy rating in a report on Monday, August 7th. BidaskClub lowered Newell Brands from a sell rating to a strong sell rating in a report on Thursday, August 24th. Finally, Zacks Investment Research upgraded Newell Brands from a hold rating to a buy rating and set a $60.00 price target on the stock in a report on Saturday, July 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $58.07.
Shares of Newell Brands (NYSE NWL) opened at 48.91 on Tuesday. The company has a 50-day moving average price of $50.87 and a 200-day moving average price of $50.29. Newell Brands has a 12 month low of $43.43 and a 12 month high of $55.08. The firm has a market cap of $23.97 billion, a price-to-earnings ratio of 19.53 and a beta of 1.19.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping 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 return on equity of 11.47% and a net margin of 7.87%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. Analysts forecast that Newell Brands will post $3.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.88%. Newell Brands’s dividend payout ratio is presently 36.95%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wright Investors Service Inc. acquired a new stake in shares of Newell Brands during the first quarter worth approximately $249,000. Advisor Partners LLC acquired a new stake in shares of Newell Brands during the first quarter worth approximately $266,000. Weatherly Asset Management L. P. increased its stake in shares of Newell Brands by 14.8% in the first quarter. Weatherly Asset Management L. P. now owns 15,893 shares of the company’s stock worth $750,000 after buying an additional 2,045 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Newell Brands by 2,004.5% in the first quarter. Canada Pension Plan Investment Board now owns 60,105 shares of the company’s stock worth $2,835,000 after buying an additional 57,249 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Newell Brands by 2.6% in the first quarter. Wells Fargo & Company MN now owns 1,887,201 shares of the company’s stock worth $89,018,000 after buying an additional 47,654 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.
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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