Wells Fargo & Company Raises Newell Brands (NASDAQ:NWL) Price Target to $8.00

Newell Brands (NASDAQ:NWL - Free Report) had its price target upped by Wells Fargo & Company from $7.00 to $8.00 in a report issued on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also issued reports on NWL. Citigroup lifted their price objective on shares of Newell Brands from $7.50 to $8.00 and gave the company a neutral rating in a research note on Monday. Royal Bank of Canada dropped their price objective on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research note on Monday, February 12th. Raymond James lowered shares of Newell Brands from an outperform rating to a market perform rating in a research note on Monday, February 12th. Canaccord Genuity Group lifted their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $8.52.

Newell Brands Trading Up 3.3 %

Shares of NWL traded up $0.26 during mid-day trading on Monday, hitting $8.05. The company had a trading volume of 5,916,891 shares, compared to its average volume of 5,116,076. The business's 50-day simple moving average is $7.49 and its 200-day simple moving average is $7.74. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. Newell Brands has a 1-year low of $6.49 and a 1-year high of $12.02. The stock has a market cap of $3.34 billion, a PE ratio of -11.18, a P/E/G ratio of 1.54 and a beta of 0.95.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.64 billion. Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The company's quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the company earned ($0.06) earnings per share. Sell-side analysts forecast that Newell Brands will post 0.56 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Wednesday, February 28th. Newell Brands's dividend payout ratio (DPR) is -38.89%.

Hedge Funds Weigh In On Newell Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mesirow Financial Investment Management Inc. acquired a new position in shares of Newell Brands during the first quarter valued at $281,000. Verity & Verity LLC acquired a new position in shares of Newell Brands during the first quarter valued at $233,000. Bell Bank boosted its holdings in shares of Newell Brands by 14.0% during the first quarter. Bell Bank now owns 683,807 shares of the company's stock valued at $5,491,000 after acquiring an additional 84,004 shares during the period. New Mexico Educational Retirement Board acquired a new position in shares of Newell Brands during the first quarter valued at $177,000. Finally, Accurate Wealth Management LLC acquired a new position in shares of Newell Brands during the first quarter valued at $88,000. Institutional investors and hedge funds own 92.50% of the company's stock.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.