Newell Brands Inc. (NYSE:NWL) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday, June 22nd.
A number of other equities research analysts also recently commented on the company. UBS AG set a $60.00 target price on Newell Brands and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Royal Bank Of Canada restated a “buy” rating and set a $60.00 price objective on shares of Newell Brands in a research report on Thursday, June 8th. Jefferies Group LLC restated a “buy” rating and set a $61.00 price objective on shares of Newell Brands in a research report on Monday, February 27th. BMO Capital Markets set a $51.00 price objective on Newell Brands and gave the company a “hold” rating in a research report on Monday, May 8th. Finally, J P Morgan Chase & Co assumed coverage on Newell Brands in a report on Tuesday, March 21st. They issued an “overweight” rating and a $63.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $58.56.
Shares of Newell Brands (NYSE NWL) opened at 53.90 on Thursday. The firm has a market capitalization of $26.04 billion, a P/E ratio of 22.88 and a beta of 1.17. Newell Brands has a 12 month low of $43.43 and a 12 month high of $55.45. The company has a 50 day moving average of $53.17 and a 200-day moving average of $48.72.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Monday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. Newell Brands had a return on equity of 11.07% and a net margin of 7.40%. Newell Brands’s revenue for the quarter was up 148.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. Analysts predict that Newell Brands will post $3.12 EPS for the current year.
In related news, Director Thomas E. Clarke sold 5,353 shares of Newell Brands stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $52.49, for a total value of $280,978.97. Following the sale, the director now directly owns 66,286 shares in the company, valued at approximately $3,479,352.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.97% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Newell Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 46,571,725 shares of the company’s stock valued at $2,196,788,000 after buying an additional 1,584,954 shares in the last quarter. BlackRock Inc. raised its stake in Newell Brands by 3,249.0% in the first quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock valued at $1,413,905,000 after buying an additional 29,079,686 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Newell Brands by 6.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,876,886 shares of the company’s stock valued at $465,892,000 after buying an additional 563,331 shares during the last quarter. Fred Alger Management Inc. raised its stake in Newell Brands by 15.9% in the fourth quarter. Fred Alger Management Inc. now owns 7,414,985 shares of the company’s stock valued at $331,079,000 after buying an additional 1,020,000 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in Newell Brands by 3.6% in the first quarter. Neuberger Berman Group LLC now owns 7,205,042 shares of the company’s stock valued at $339,862,000 after buying an additional 249,524 shares during the last quarter. Institutional investors and hedge funds own 94.23% of the company’s stock.
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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