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.
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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.
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