BMO Capital Markets reiterated their market perform rating on shares of Newell Brands Inc. (NYSE:NWL) in a research note issued to investors on Thursday, September 21st. They currently have a $45.00 price target on the stock, down from their previous price target of $51.00.
Several other brokerages have also weighed in on NWL. Jefferies Group LLC reissued a buy rating and issued a $66.00 price objective (up previously from $65.00) on shares of Newell Brands in a report on Thursday, July 6th. Zacks Investment Research raised Newell Brands from a hold rating to a buy rating and set a $60.00 price objective for the company in a report on Saturday, July 1st. BidaskClub raised Newell Brands from a hold rating to a buy rating in a report on Wednesday, July 5th. Royal Bank Of Canada reissued a buy rating and issued a $60.00 price objective on shares of Newell Brands in a report on Thursday, June 8th. Finally, J P Morgan Chase & Co set a $61.00 price objective on Newell Brands and gave the stock a buy rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Newell Brands has an average rating of Buy and a consensus price target of $56.57.
Shares of Newell Brands (NWL) opened at 42.67 on Thursday. The company has a market cap of $20.91 billion, a PE ratio of 17.04 and a beta of 1.19. The stock has a 50 day moving average of $48.12 and a 200-day moving average of $50.04. Newell Brands has a 12 month low of $41.25 and a 12 month high of $55.08.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the firm posted $0.78 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Newell Brands will post $3.00 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.16%. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
Newell Brands announced that its Board of Directors has initiated a share buyback plan on Tuesday, September 26th that allows the company to buyback $256.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other Newell Brands news, CEO Michael B. Polk purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the transaction, the chief executive officer now owns 609,296 shares in the company, valued at approximately $26,571,398.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scott S. Cowen purchased 2,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were acquired at an average price of $43.60 per share, with a total value of $87,200.00. Following the transaction, the director now owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 7,100 shares of company stock valued at $309,715. Corporate insiders own 0.97% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp boosted its position in shares of Newell Brands by 0.5% during the 1st quarter. Fifth Third Bancorp now owns 7,137 shares of the company’s stock valued at $337,000 after acquiring an additional 39 shares during the last quarter. Cleararc Capital Inc. lifted its position in Newell Brands by 0.5% in the 1st quarter. Cleararc Capital Inc. now owns 10,902 shares of the company’s stock worth $514,000 after buying an additional 51 shares during the last quarter. Penserra Capital Management LLC lifted its position in Newell Brands by 1.6% in the 2nd quarter. Penserra Capital Management LLC now owns 4,160 shares of the company’s stock worth $223,000 after buying an additional 66 shares during the last quarter. QS Investors LLC lifted its position in Newell Brands by 1.1% in the 2nd quarter. QS Investors LLC now owns 6,040 shares of the company’s stock worth $324,000 after buying an additional 68 shares during the last quarter. Finally, Savant Capital LLC lifted its position in Newell Brands by 1.9% in the 1st quarter. Savant Capital LLC now owns 4,868 shares of the company’s stock worth $230,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.
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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