Shares of Newell Brands Inc (NYSE:NWL) were up 14.2% during trading on Friday following a better than expected earnings announcement. The stock traded as high as $15.83 and last traded at $15.34, approximately 20,652,043 shares were traded during mid-day trading. An increase of 238% from the average daily volume of 6,116,613 shares. The stock had previously closed at $13.43.
The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the previous year, the business posted $0.82 earnings per share.
Several equities research analysts have issued reports on NWL shares. Wells Fargo & Co reiterated a “buy” rating on shares of Newell Brands in a research report on Wednesday. Zacks Investment Research upgraded shares of Newell Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Consumer Edge started coverage on shares of Newell Brands in a research report on Wednesday, July 3rd. They set a “hold” rating for the company. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $20.80.
Several institutional investors and hedge funds have recently made changes to their positions in NWL. Pzena Investment Management LLC lifted its holdings in shares of Newell Brands by 35.6% in the 1st quarter. Pzena Investment Management LLC now owns 24,817,839 shares of the company’s stock worth $380,706,000 after acquiring an additional 6,513,500 shares during the last quarter. Norges Bank bought a new stake in shares of Newell Brands in the 4th quarter worth approximately $96,020,000. Strs Ohio lifted its holdings in shares of Newell Brands by 430.4% in the 1st quarter. Strs Ohio now owns 1,756,104 shares of the company’s stock worth $26,938,000 after acquiring an additional 1,425,000 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Newell Brands by 7,163.2% in the 1st quarter. Marshall Wace LLP now owns 1,264,094 shares of the company’s stock worth $19,390,000 after acquiring an additional 1,246,690 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Newell Brands by 298.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,543,693 shares of the company’s stock worth $33,782,000 after acquiring an additional 1,156,542 shares during the last quarter. Hedge funds and other institutional investors own 98.42% of the company’s stock.
The firm has a market cap of $6.49 billion, a PE ratio of 5.58, a P/E/G 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. The company has a fifty day moving average of $14.83.
Newell Brands Company Profile (NYSE:NWL)
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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