Newell Brands (NWL) Rating Reiterated by Royal Bank of Canada

Newell Brands (NYSE:NWL)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a note issued to investors on Tuesday. They currently have a $27.00 price target on the stock. Royal Bank of Canada’s target price indicates a potential downside of 4.36% from the stock’s current price.

NWL has been the subject of several other research reports. BMO Capital Markets cut their price target on Newell Brands to $25.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Morgan Stanley cut their price target on Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Zacks Investment Research cut Newell Brands from a “hold” rating to a “sell” rating in a report on Monday, January 29th. TheStreet cut Newell Brands from a “b-” rating to a “c+” rating in a report on Tuesday, November 14th. Finally, Bank of America cut Newell Brands from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.00.

Shares of Newell Brands (NYSE:NWL) opened at $28.23 on Tuesday. Newell Brands has a fifty-two week low of $23.85 and a fifty-two week high of $55.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market capitalization of $13,835.52, a P/E ratio of 5.01, a P/E/G ratio of 1.33 and a beta of 0.90.

Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Friday, February 16th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Newell Brands had a return on equity of 10.47% and a net margin of 18.65%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. research analysts forecast that Newell Brands will post 2.7 EPS for the current year.

Newell Brands declared that its Board of Directors has authorized a stock repurchase program on Thursday, November 2nd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

A number of institutional investors have recently modified their holdings of the stock. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in Newell Brands by 60.4% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 24,700 shares of the company’s stock worth $763,000 after acquiring an additional 9,300 shares during the period. MetLife Investment Advisors LLC purchased a new position in Newell Brands in the fourth quarter worth approximately $4,686,000. KLCM Advisors Inc. grew its position in Newell Brands by 8.5% in the fourth quarter. KLCM Advisors Inc. now owns 166,021 shares of the company’s stock worth $5,130,000 after acquiring an additional 12,996 shares during the period. Westwood Holdings Group Inc. grew its position in Newell Brands by 177.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 613,595 shares of the company’s stock worth $18,960,000 after acquiring an additional 392,305 shares during the period. Finally, Vident Investment Advisory LLC grew its position in Newell Brands by 100.7% in the fourth quarter. Vident Investment Advisory LLC now owns 14,405 shares of the company’s stock worth $446,000 after acquiring an additional 7,226 shares during the period. Institutional investors own 86.04% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another domain, it was stolen and republished in violation of US and international trademark and copyright law. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/20/newell-brands-nwl-rating-reiterated-by-royal-bank-of-canada.html.

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.

Analyst Recommendations for Newell Brands (NYSE:NWL)

Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply