KeyCorp set a $60.00 target price on Newell Brands Inc. (NYSE:NWL) in a research report sent to investors on Monday, October 16th. The firm currently has a buy rating on the stock.
NWL has been the subject of a number of other research reports. BMO Capital Markets set a $51.00 target price on Newell Brands and gave the stock a hold rating in a report on Saturday, August 5th. JPMorgan Chase & Co. set a $61.00 target price on Newell Brands and gave the stock a buy rating in a report on Monday, August 7th. Forward View reissued a buy rating and set a $58.00 target price on shares of Newell Brands in a report on Monday, September 11th. BidaskClub downgraded Newell Brands from a sell rating to a strong sell rating in a report on Thursday, August 24th. Finally, Zacks Investment Research raised Newell Brands from a hold rating to a buy rating and set a $59.00 target price for the company in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Newell Brands presently has a consensus rating of Buy and an average price target of $56.38.
Newell Brands (NWL) opened at 40.40 on Monday. The firm has a market capitalization of $19.80 billion, a PE ratio of 16.13 and a beta of 1.15. Newell Brands has a 1-year low of $39.90 and a 1-year high of $55.08. The company’s 50-day moving average is $42.60 and its 200 day moving average is $48.94.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Newell Brands will post $3.00 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/10/27/newell-brands-inc-nwl-given-a-60-00-price-target-by-keycorp-analysts.html.
Newell Brands declared that its board has approved a share buyback plan on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Newell Brands news, CEO Michael B. Polk bought 5,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the transaction, the chief executive officer now directly 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 available at the SEC website. Also, Director Scott S. Cowen bought 2,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was acquired at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the transaction, the director now owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 7,100 shares of company stock valued at $309,715. 0.97% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Eaton Vance Management grew its position in Newell Brands by 2.1% in the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock valued at $217,467,000 after acquiring an additional 82,184 shares during the last quarter. King Luther Capital Management Corp grew its position in Newell Brands by 1.0% in the second quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock valued at $171,745,000 after acquiring an additional 30,576 shares during the last quarter. Bellwether Investment Group LLC grew its position in Newell Brands by 2.0% in the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after acquiring an additional 110 shares during the last quarter. FMR LLC grew its position in Newell Brands by 0.5% in the second quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after acquiring an additional 52,553 shares during the last quarter. Finally, PICTET BANK & TRUST Ltd bought a new position in Newell Brands in the second quarter valued at about $2,102,000. Hedge funds and other institutional investors own 92.35% 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.
Receive News & Ratings for Newell Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.