Newell Brands Inc. (NYSE:NWL)‘s stock had its “buy” rating reaffirmed by investment analysts at Forward View in a note issued to investors on Sunday. They presently have a $35.00 price objective on the stock. Forward View’s price target would suggest a potential upside of 15.66% from the stock’s current price.
A number of other research analysts have also issued reports on the company. Jefferies Group LLC lowered Newell Brands from a “buy” rating to a “hold” rating and decreased their target price for the company from $63.00 to $49.00 in a report on Monday, September 11th. Royal Bank Of Canada reiterated a “top pick” rating and issued a $60.00 target price on shares of Newell Brands in a report on Tuesday, August 29th. Zacks Investment Research lowered Newell Brands from a “buy” rating to a “hold” rating in a report on Friday, July 28th. J P Morgan Chase & Co decreased their target price on Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, September 21st. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 target price (down from $51.00) on shares of Newell Brands in a report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.93.
Newell Brands (NYSE NWL) traded down $0.51 on Friday, hitting $30.26. The stock had a trading volume of 5,445,108 shares, compared to its average volume of 7,451,309. The firm has a market capitalization of $15,080.38, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 0.80.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. equities research analysts expect that Newell Brands will post 2.81 earnings per share for the current year.
Newell Brands announced that its board has approved a share buyback program on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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In related news, CEO Michael B. Polk purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the transaction, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott S. Cowen purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the transaction, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders have bought 7,100 shares of company stock worth $309,715 in the last quarter. Insiders own 0.97% of the company’s stock.
A number of hedge funds have recently modified their holdings of NWL. BDO Wealth Advisors LLC acquired a new position in Newell Brands in the 2nd quarter valued at about $107,000. Harfst & Associates Inc. boosted its holdings in Newell Brands by 14.4% in the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock valued at $134,000 after purchasing an additional 315 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in Newell Brands in the 2nd quarter valued at approximately $143,000. Oppenheimer Asset Management Inc. purchased a new stake in Newell Brands in the 1st quarter valued at approximately $156,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Newell Brands by 52.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after purchasing an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Newell Brands Company Profile
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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