Zacks Investment Research lowered shares of Newell Brands (NYSE:NWL) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
According to Zacks, “Newell Brands is on track to attain its transformation goals through market share gains, point of sale growth, innovation, e-commerce improvement, and cost-savings plans. Further, stringent progress on its Project Renewal Program and Growth Game Plan bode well. This is likely to improve cost savings and accelerate growth by simplifying and strengthening the company’s portfolio. Additionally, Newell’s shareholder-friendly moves and value-added investments should attract investors’ attention. However, the company has lagged the industry in the last three months due to the after-effects of Hurricane Harvey, which weighed on its third-quarter 2017 results. The quarter marked the company’s first earnings miss in more than three years, while sales lagged after two straight beats. Moreover, the company slashed its outlook for 2017. Estimates have been stable lately ahead of the fourth quarter earnings.”
Other equities analysts also recently issued research reports about the stock. Forward View reaffirmed a buy rating and set a $35.00 target price on shares of Newell Brands in a research note on Sunday, November 5th. Citigroup decreased their target price on shares of Newell Brands from $63.00 to $42.00 and set a buy rating for the company in a research note on Friday, November 3rd. KeyCorp set a $60.00 target price on shares of Newell Brands and gave the company a buy rating in a research note on Monday, October 16th. Barclays reaffirmed a buy rating and set a $35.00 target price on shares of Newell Brands in a research note on Wednesday, December 6th. Finally, TheStreet downgraded shares of Newell Brands from a b- rating to a c+ rating in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Newell Brands has an average rating of Hold and an average price target of $45.20.
Newell Brands (NWL) traded down $0.49 during trading on Tuesday, hitting $31.29. 4,629,300 shares of the stock were exchanged, compared to its average volume of 4,280,033. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $15,300.00, a price-to-earnings ratio of 12.08, a P/E/G ratio of 1.21 and a beta of 1.10. Newell Brands has a one year low of $27.45 and a one year high of $55.08.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the company earned $0.78 earnings per share. Newell Brands’s quarterly revenue was down 7.0% on a year-over-year basis. sell-side analysts anticipate that Newell Brands will post 2.81 earnings per share for the current year.
Newell Brands declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 26th that allows the company to buyback $256.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other Newell Brands news, CEO Michael B. Polk purchased 7,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the purchase, the chief executive officer now directly owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Investments LLC purchased a new position in shares of Newell Brands during the 3rd quarter worth about $107,000. Harfst & Associates Inc. boosted its position in Newell Brands by 14.4% in the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock valued at $134,000 after buying an additional 315 shares during the period. BB&T Investment Services Inc. purchased a new stake in Newell Brands in the 2nd quarter valued at about $143,000. Northwestern Mutual Wealth Management Co. boosted its position in Newell Brands by 52.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after buying an additional 1,088 shares during the period. Finally, Sun Life Financial INC boosted its position in Newell Brands by 29,358.3% in the 2nd quarter. Sun Life Financial INC now owns 3,535 shares of the company’s stock valued at $190,000 after buying an additional 3,523 shares during the period. Institutional investors own 94.28% of the company’s stock.
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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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