Newell Brands (NASDAQ:NWL) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Newell Brands from “buy” to “hold.” Overall, analysts also lean toward “hold,” with a consensus price target of $6.62.
• Newell reported quarterly EPS of $0.20, matching estimates, and revenue of $1.87 billion, slightly above expectations and up 3.7% year over year.
• Shares opened at $5.47 and were down 0.4%; the stock’s 12-month trading range is $3.08 to $7.13.

Newell Brands (NASDAQ:NWL - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada boosted their price objective on shares of Newell Brands from $4.00 to $5.00 and gave the company a "sector perform" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their price objective on shares of Newell Brands from $5.00 to $7.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Citigroup reduced their price objective on Newell Brands from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Monday, November 2nd. UBS Group increased their target price on shares of Newell Brands from $5.50 to $5.75 and gave the company a "neutral" rating in a research report on Monday. Finally, Weiss Ratings raised shares of Newell Brands from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Monday. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Newell Brands has a consensus rating of "Hold" and an average price target of $6.62.

Newell Brands Stock Down 0.4%

Shares of NASDAQ:NWL opened at $5.47 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.27 and a debt-to-equity ratio of 2.05. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -7.10, a PEG ratio of 1.48 and a beta of 0.88. Newell Brands has a 12-month low of $3.08 and a 12-month high of $7.13. The business's 50 day moving average is $5.65 and its 200 day moving average is $4.87.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. Newell Brands had a negative net margin of 4.42% and a positive return on equity of 13.41%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 earnings per share. On average, sell-side analysts forecast that Newell Brands will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newell Brands

A number of large investors have recently modified their holdings of the company. King Luther Capital Management Corp increased its position in Newell Brands by 1.6% during the 3rd quarter. King Luther Capital Management Corp now owns 1,952,627 shares of the company's stock valued at $10,310,000 after purchasing an additional 30,000 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Newell Brands by 54.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 95,444 shares of the company's stock worth $504,000 after acquiring an additional 33,540 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in Newell Brands by 35.0% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 228,101 shares of the company's stock valued at $1,204,000 after purchasing an additional 59,111 shares during the period. Fulcrum Asset Management LLP acquired a new stake in Newell Brands during the third quarter worth about $83,000. Finally, Uhlmann Price Securities LLC increased its holdings in shares of Newell Brands by 2.2% in the third quarter. Uhlmann Price Securities LLC now owns 224,490 shares of the company's stock valued at $1,185,000 after purchasing an additional 4,739 shares during the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Newell Brands Company Profile

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer's and Sistema.

The company's products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.