Several other equities research analysts have also recently issued reports on the company. Jefferies Group LLC reiterated a hold rating and issued a $47.00 price objective on shares of Newell Brands in a report on Thursday, October 19th. Citigroup Inc. decreased their target price on shares of Newell Brands from $63.00 to $42.00 and set a buy rating on the stock in a research note on Friday, November 3rd. Morgan Stanley decreased their target price on shares of Newell Brands from $54.00 to $38.00 and set an overweight rating on the stock in a research note on Friday, November 3rd. Royal Bank Of Canada reissued a top pick rating and issued a $60.00 target price on shares of Newell Brands in a research note on Tuesday, August 29th. Finally, Zacks Investment Research lowered shares of Newell Brands from a buy rating to a hold rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Newell Brands currently has an average rating of Hold and an average target price of $49.57.
Shares of Newell Brands (NYSE:NWL) opened at $28.56 on Tuesday. 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 has a twelve month low of $27.45 and a twelve month high of $55.08. The stock has a market capitalization of $13,810.00, a PE ratio of 9.77, a P/E/G ratio of 1.13 and a beta of 1.20.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 7.53% and a net margin of 6.37%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. equities research analysts anticipate that Newell Brands will post 2.81 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s payout ratio is presently 35.52%.
Newell Brands announced that its board has approved a stock buyback plan 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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In related news, CEO Michael B. Polk bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott S. Cowen bought 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, with a total value of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 7,100 shares of company stock worth $309,715. Corporate insiders own 0.97% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Eaton Vance Management increased its holdings in Newell Brands by 2.1% in the 2nd quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock valued at $217,467,000 after purchasing an additional 82,184 shares during the last quarter. King Luther Capital Management Corp increased its holdings in Newell Brands by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock valued at $171,745,000 after purchasing an additional 30,576 shares during the last quarter. Whittier Trust Co. increased its holdings in Newell Brands by 85.8% in the 3rd quarter. Whittier Trust Co. now owns 10,658 shares of the company’s stock valued at $455,000 after purchasing an additional 4,921 shares during the last quarter. First Manhattan Co. increased its holdings in Newell Brands by 12.1% in the 3rd quarter. First Manhattan Co. now owns 3,649,938 shares of the company’s stock valued at $155,742,000 after purchasing an additional 394,123 shares during the last quarter. Finally, Bellwether Investment Group LLC increased its holdings in Newell Brands by 2.0% in the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 91.42% 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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