A number of other analysts have also commented on the company. Zacks Investment Research raised Newell Brands from a hold rating to a buy rating and set a $52.00 target price for the company in a report on Tuesday, April 11th. Oppenheimer Holdings Inc. reaffirmed a market perform rating and issued a $50.00 price objective (down previously from $52.00) on shares of Newell Brands in a report on Thursday, February 2nd. JPMorgan Chase & Co. initiated coverage on Newell Brands in a report on Tuesday, March 21st. They issued an overweight rating and a $63.00 price objective for the company. KeyCorp cut their price objective on Newell Brands from $60.00 to $57.00 and set an overweight rating for the company in a report on Tuesday, February 7th. Finally, Royal Bank of Canada set a $60.00 price objective on Newell Brands and gave the stock a buy rating in a report on Monday, January 2nd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Newell Brands currently has an average rating of Buy and an average price target of $57.93.
Newell Brands (NYSE:NWL) traded up 1.85% during midday trading on Friday, hitting $52.83. The stock had a trading volume of 2,951,552 shares. The firm’s 50-day moving average price is $48.30 and its 200 day moving average price is $47.47. Newell Brands has a 12 month low of $43.43 and a 12 month high of $55.45. The company has a market cap of $25.52 billion, a P/E ratio of 22.42 and a beta of 0.94.
Newell Brands (NYSE:NWL) last posted its earnings results on Monday, May 8th. The company reported $0.34 EPS for the quarter, topping the Zacks’ 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 13.59% and a net margin of 3.98%. The company’s quarterly revenue was up 148.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. On average, analysts expect that Newell Brands will post $3.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a $0.23 dividend. This is a positive change from Newell Brands’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, May 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.77%. Newell Brands’s payout ratio is presently 64.96%.
In other Newell Brands news, Director Thomas E. Clarke sold 5,353 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $52.49, for a total transaction of $280,978.97. Following the completion of the sale, the director now owns 66,286 shares in the company, valued at $3,479,352.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.34, for a total value of $16,435,600.00. Following the sale, the director now owns 4,840,926 shares of the company’s stock, valued at approximately $234,010,362.84. The disclosure for this sale can be found here. Insiders sold 350,706 shares of company stock valued at $16,980,910 in the last quarter. 0.66% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Harfst & Associates Inc. acquired a new stake in shares of Newell Brands during the first quarter valued at approximately $103,000. Parallel Advisors LLC purchased a new position in Newell Brands during the fourth quarter valued at about $105,000. Israel Discount Bank of New York purchased a new position in Newell Brands during the first quarter valued at about $112,000. Global X Management Co. LLC increased its position in Newell Brands by 105.8% in the third quarter. Global X Management Co. LLC now owns 2,677 shares of the company’s stock valued at $141,000 after buying an additional 1,376 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Newell Brands during the first quarter valued at about $156,000. Hedge funds and other institutional investors own 93.22% 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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