JPMorgan Chase & Co. Raises Newell Brands (NASDAQ:NWL) Price Target to $8.00

Key Points

• JPMorgan Chase & Co. raised its target price for Newell Brands from $7.00 to $8.00, indicating a potential upside of 27.59% from the current price.
• Overall, Newell Brands has received mixed ratings from analysts, with six holding a "hold" rating and four assigning a "buy" rating, leading to a consensus average target price of $7.94.
• Recent quarterly earnings showed a revenue of $1.57 billion, exceeding analysts' expectations, despite a year-over-year revenue decline of 5.3%.

Newell Brands (NASDAQ:NWL - Free Report) had its target price increased by JPMorgan Chase & Co. from $7.00 to $8.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on NWL. Canaccord Genuity Group reduced their target price on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wall Street Zen raised shares of Newell Brands from a "sell" rating to a "hold" rating in a report on Sunday, May 4th. Wells Fargo & Company increased their target price on shares of Newell Brands from $5.00 to $6.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Barclays increased their target price on shares of Newell Brands from $8.00 to $9.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $9.00 target price on shares of Newell Brands in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Newell Brands presently has a consensus rating of "Hold" and a consensus target price of $7.94.

Newell Brands Stock Performance

Shares of NASDAQ:NWL traded down $0.22 during trading on Friday, hitting $5.95. The company's stock had a trading volume of 7,666,886 shares, compared to its average volume of 6,397,597. The company has a 50-day moving average of $5.60 and a 200-day moving average of $6.36. Newell Brands has a 12 month low of $4.22 and a 12 month high of $11.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.13 and a quick ratio of 0.54. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -10.08 and a beta of 0.96.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.06. Newell Brands had a negative net margin of 3.26% and a positive return on equity of 9.95%. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.54 billion. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, sell-side analysts expect that Newell Brands will post 0.72 earnings per share for the current year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, May 30th. Newell Brands's dividend payout ratio (DPR) is presently -47.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NWL. Castlekeep Investment Advisors LLC bought a new stake in Newell Brands in the fourth quarter worth $33,000. Farther Finance Advisors LLC lifted its position in Newell Brands by 212.6% in the first quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company's stock worth $38,000 after buying an additional 4,169 shares during the last quarter. Parallel Advisors LLC lifted its position in Newell Brands by 194.3% in the second quarter. Parallel Advisors LLC now owns 8,067 shares of the company's stock worth $44,000 after buying an additional 5,326 shares during the last quarter. HB Wealth Management LLC bought a new stake in Newell Brands in the second quarter worth $55,000. Finally, OMNI 360 Wealth Inc. bought a new stake in Newell Brands in the second quarter worth $58,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

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.