Newell Brands (NYSE:NWL)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Financial Group in a research note issued to investors on Thursday. They presently have a $15.00 price objective on the stock. Jefferies Financial Group’s target price points to a potential downside of 2.91% from the company’s current price.
The analysts wrote, “NWL announced that CEO, Mike Polk, will retire at the end of 2Q and that the co. will consider internal/external candidates to replace him. The news should not come as a big surprise given myriad issues (many self-inflicted, others external) that have plagued Mr. Polk’s tenure since the JAH deal. NWL’s CFO, C. Peterson, brings ops. exp. and is the likely front-runner to replace Mr. Polk, in our view. NWL may get sentiment lift, but turnaround will take time.””
A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Newell Brands from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Tuesday, February 19th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Monday, February 18th. Wells Fargo & Co reissued an “outperform” rating and issued a $21.00 price objective (down previously from $36.00) on shares of Newell Brands in a report on Tuesday, February 19th. Citigroup upped their price objective on shares of Newell Brands from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, December 4th. Finally, Barclays set a $16.00 price objective on shares of Newell Brands and gave the company a “hold” rating in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $22.08.
Shares of Newell Brands stock traded down $0.02 during trading hours on Thursday, reaching $15.45. 7,269,155 shares of the company’s stock were exchanged, compared to its average volume of 6,799,476. Newell Brands has a 1 year low of $15.11 and a 1 year high of $29.23. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 3.82 and a beta of 0.90. The company has a quick ratio of 2.53, a current ratio of 2.98 and a debt-to-equity ratio of 1.54.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, February 15th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.30. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Newell Brands’s quarterly revenue was down 6.0% on a year-over-year basis. On average, research analysts anticipate that Newell Brands will post 1.22 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC boosted its stake in Newell Brands by 67.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,545 shares of the company’s stock worth $29,000 after buying an additional 624 shares during the period. Capital Investment Advisory Services LLC purchased a new position in Newell Brands during the fourth quarter worth about $31,000. JOYN Advisors Inc. boosted its stake in Newell Brands by 232.3% during the fourth quarter. JOYN Advisors Inc. now owns 1,738 shares of the company’s stock worth $32,000 after buying an additional 1,215 shares during the period. FNY Investment Advisers LLC boosted its stake in Newell Brands by 459.1% during the fourth quarter. FNY Investment Advisers LLC now owns 1,957 shares of the company’s stock worth $36,000 after buying an additional 1,607 shares during the period. Finally, We Are One Seven LLC purchased a new position in Newell Brands during the fourth quarter worth about $49,000. 98.42% of the stock is owned by institutional investors.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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