Newell Rubbermaid Inc. (NWL) Shares Gap Up to $53.85
Newell Rubbermaid Inc. (NYSE:NWL)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $53.65, but opened at $53.85. Newell Rubbermaid shares last traded at $54.19, with a volume of 1,388,354 shares changing hands.
Several brokerages have recently commented on NWL. RBC Capital Markets reiterated a “buy” rating on shares of Newell Rubbermaid in a research report on Monday, August 1st. Citigroup Inc. reiterated a “buy” rating and set a $61.00 price objective on shares of Newell Rubbermaid in a research report on Tuesday, August 2nd. Zacks Investment Research lowered Newell Rubbermaid from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. B. Riley reiterated a “buy” rating and set a $60.00 price objective on shares of Newell Rubbermaid in a research report on Monday, August 1st. Finally, Jefferies Group reiterated a “top pick” rating and set a $66.00 price objective (up from $61.00) on shares of Newell Rubbermaid in a research report on Monday, August 1st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Newell Rubbermaid currently has a consensus rating of “Buy” and an average price target of $57.27.
The company’s 50-day moving average price is $51.37 and its 200-day moving average price is $46.08. The stock has a market capitalization of $26.26 billion and a P/E ratio of 52.82.
Newell Rubbermaid (NYSE:NWL) last posted its earnings results on Friday, July 29th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The firm earned $3.86 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Newell Rubbermaid’s quarterly revenue was up 147.2% on a year-over-year basis. On average, equities analysts expect that Newell Rubbermaid Inc. will post $2.87 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a $0.19 dividend. The ex-dividend date is Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.40%.
In related news, Director Ian G. H. Ashken sold 346,781 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $48.51, for a total value of $16,822,346.31. Following the sale, the director now directly owns 992,909 shares in the company, valued at $48,166,015.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sole Domenico De bought 4,180 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The stock was purchased at an average price of $47.79 per share, for a total transaction of $199,762.20. Following the completion of the transaction, the director now directly owns 53,469 shares of the company’s stock, valued at approximately $2,555,283.51. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Newell Rubbermaid stock. Principal Financial Group Inc. boosted its position in Newell Rubbermaid Inc. (NYSE:NWL) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 410,618 shares of the company’s stock after buying an additional 6,172 shares during the period. Principal Financial Group Inc. owned about 0.15% of Newell Rubbermaid worth $18,100,000 at the end of the most recent reporting period.
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.