BMO Capital Markets restated their market perform rating on shares of Newell Brands Inc. (NYSE:NWL) in a report released on Thursday morning. They currently have a $45.00 price objective on the stock, down from their previous price objective of $51.00.
NWL has been the topic of several other reports. J P Morgan Chase & Co set a $61.00 price objective on Newell Brands and gave the stock a buy rating in a research note on Monday, August 7th. Forward View reiterated a buy rating and issued a $58.00 target price on shares of Newell Brands in a research note on Monday, September 11th. Zacks Investment Research upgraded Newell Brands from a hold rating to a buy rating and set a $59.00 target price on the stock in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a buy rating and issued a $60.00 target price on shares of Newell Brands in a research note on Thursday, June 8th. Finally, BidaskClub cut Newell Brands from a sell rating to a strong sell rating in a research note on Thursday, August 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Newell Brands presently has an average rating of Buy and an average target price of $56.57.
Shares of Newell Brands (NYSE:NWL) opened at 41.39 on Thursday. The stock has a market cap of $20.29 billion, a P/E ratio of 16.53 and a beta of 1.19. Newell Brands has a 12 month low of $41.25 and a 12 month high of $55.08. The stock’s 50 day moving average is $48.12 and its 200 day moving average is $50.04.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that Newell Brands will post $3.00 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, August 29th. Newell Brands’s payout ratio is currently 36.95%.
In other news, Director Scott S. Cowen bought 2,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average cost of $43.60 per share, with a total value of $87,200.00. Following the completion of the acquisition, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael B. Polk bought 5,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were purchased at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the acquisition, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The disclosure for this purchase can be found here. 0.97% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Harfst & Associates Inc. acquired a new position in Newell Brands during the first quarter worth about $103,000. BDO Wealth Advisors LLC acquired a new position in Newell Brands during the second quarter worth about $107,000. Israel Discount Bank of New York acquired a new position in Newell Brands during the first quarter worth about $112,000. Parallel Advisors LLC grew its holdings in Newell Brands by 23.0% during the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after acquiring an additional 544 shares during the period. Finally, BB&T Investment Services Inc. acquired a new position in Newell Brands during the second quarter worth about $143,000. 92.36% of the stock is currently 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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