TheStreet upgraded shares of Newell Brands (NASDAQ:NWL – Get Rating) from a c+ rating to a b rating in a research report report published on Friday, TheStreetRatingsTable reports.
Several other brokerages have also recently issued reports on NWL. JPMorgan Chase & Co. reduced their price target on shares of Newell Brands from $29.00 to $26.00 and set an overweight rating on the stock in a research report on Wednesday, March 30th. Raymond James reduced their price target on shares of Newell Brands from $33.00 to $28.00 and set a strong-buy rating on the stock in a research report on Monday, April 18th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $28.13.
Shares of NWL stock opened at $22.43 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.39 and a quick ratio of 0.66. The firm has a market cap of $9.33 billion, a PE ratio of 13.43 and a beta of 0.71. The company has a 50-day moving average of $22.53 and a two-hundred day moving average of $22.84. Newell Brands has a 1-year low of $20.36 and a 1-year high of $30.10.
Newell Brands (NASDAQ:NWL – Get Rating) last announced its earnings results on Friday, April 29th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.09. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.28 billion. Newell Brands had a net margin of 6.71% and a return on equity of 19.95%. Newell Brands’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Sell-side analysts anticipate that Newell Brands will post 1.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Monday, February 28th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 25th. This represents a $0.92 annualized dividend and a yield of 4.10%. Newell Brands’s dividend payout ratio (DPR) is 55.09%.
In related news, major shareholder Carl C. Icahn sold 10,634,184 shares of the firm’s stock in a transaction that occurred on Monday, February 21st. The shares were sold at an average price of $25.86, for a total value of $274,999,998.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Newell Brands by 12.1% in the fourth quarter. BlackRock Inc. now owns 51,926,047 shares of the company’s stock valued at $1,134,067,000 after purchasing an additional 5,587,736 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Newell Brands by 8.3% during the fourth quarter. Pzena Investment Management LLC now owns 28,342,422 shares of the company’s stock worth $618,998,000 after acquiring an additional 2,179,131 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Newell Brands by 11.1% during the fourth quarter. JPMorgan Chase & Co. now owns 22,278,120 shares of the company’s stock worth $486,555,000 after acquiring an additional 2,218,560 shares during the last quarter. State Street Corp grew its position in shares of Newell Brands by 3.3% during the fourth quarter. State Street Corp now owns 20,068,200 shares of the company’s stock worth $438,289,000 after acquiring an additional 643,244 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Newell Brands by 28.2% during the fourth quarter. Victory Capital Management Inc. now owns 11,312,817 shares of the company’s stock worth $247,071,000 after acquiring an additional 2,487,466 shares during the last quarter. Institutional investors own 84.07% of the company’s stock.
Newell Brands Company Profile (Get Rating)
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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