JPMorgan Chase & Co. upgraded shares of Newell Brands (NASDAQ:NWL - Free Report) from a neutral rating to an overweight rating in a report released on Friday morning, MarketBeat.com reports. The brokerage currently has $7.00 price objective on the stock, up from their prior price objective of $6.00.
A number of other research firms have also commented on NWL. Royal Bank of Canada restated a "sector perform" rating and set a $9.00 price target on shares of Newell Brands in a research report on Monday, April 28th. UBS Group dropped their price objective on Newell Brands from $5.50 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group decreased their target price on Newell Brands from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised Newell Brands from a "sell" rating to a "hold" rating in a report on Sunday, May 4th. Finally, Truist Financial dropped their price target on Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Newell Brands currently has an average rating of "Hold" and an average price target of $7.53.
View Our Latest Stock Analysis on Newell Brands
Newell Brands Stock Performance
Shares of NWL traded down $0.19 during trading hours on Friday, hitting $5.24. The company's stock had a trading volume of 12,198,804 shares, compared to its average volume of 7,661,531. The business has a 50 day simple moving average of $5.23 and a two-hundred day simple moving average of $7.41. Newell Brands has a 52-week low of $4.22 and a 52-week high of $11.78. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -10.08, a PEG ratio of 0.95 and a beta of 0.97.
Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.06. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The firm's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities analysts expect that Newell Brands will post 0.72 earnings per share for the current fiscal year.
Newell Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 5.34%. Newell Brands's dividend payout ratio (DPR) is presently -47.46%.
Hedge Funds Weigh In On Newell Brands
A number of large investors have recently modified their holdings of NWL. Charles Schwab Investment Management Inc. raised its stake in shares of Newell Brands by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,992,076 shares of the company's stock worth $39,761,000 after acquiring an additional 178,028 shares in the last quarter. Amundi grew its holdings in shares of Newell Brands by 194.4% during the 4th quarter. Amundi now owns 215,597 shares of the company's stock valued at $2,121,000 after purchasing an additional 142,361 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Newell Brands in the 4th quarter worth $9,877,000. Empowered Funds LLC raised its position in Newell Brands by 751.9% in the 4th quarter. Empowered Funds LLC now owns 100,251 shares of the company's stock worth $999,000 after purchasing an additional 88,483 shares during the period. Finally, AssuredPartners Investment Advisors LLC bought a new stake in Newell Brands in the fourth quarter worth $434,000. 92.50% of the stock is owned by hedge funds and other institutional investors.
Newell Brands Company Profile
(
Get Free Report)
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.
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