Newell Brands Inc. (NWL) Earns “Buy” Rating from Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Newell Brands Inc. (NYSE:NWL) in a research note issued to investors on Tuesday morning. The firm currently has a $61.00 price target on the stock.
Other equities research analysts also recently issued reports about the stock. B. Riley reissued a buy rating and set a $67.00 price target on shares of Newell Brands in a research note on Tuesday, February 7th. Forward View reissued a buy rating and set a $52.00 price target on shares of Newell Brands in a research note on Sunday, January 8th. RBC Capital Markets set a $60.00 price target on shares of Newell Brands and gave the stock a buy rating in a research note on Monday, January 2nd. Zacks Investment Research raised shares of Newell Brands from a hold rating to a buy rating and set a $53.00 price target for the company in a research note on Tuesday, January 17th. Finally, Oppenheimer Holdings, Inc. reissued a market perform rating and set a $50.00 price target (down from $52.00) on shares of Newell Brands in a research note on Thursday, February 2nd. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $56.87.
Shares of Newell Brands (NYSE:NWL) opened at 46.88 on Tuesday. The firm has a 50-day moving average of $46.58 and a 200-day moving average of $49.45. Newell Brands has a 52-week low of $36.72 and a 52-week high of $55.45. The stock has a market cap of $22.69 billion, a P/E ratio of 37.56 and a beta of 0.94.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Monday, February 6th. The company reported $0.80 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.80. The business earned $4.14 billion during the quarter, compared to the consensus estimate of $4.27 billion. Newell Brands had a net margin of 3.98% and a return on equity of 13.59%. Newell Brands’s revenue for the quarter was up 165.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, equities analysts expect that Newell Brands will post $3.05 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, February 24th. Newell Brands’s dividend payout ratio (DPR) is presently 64.96%.
In other news, Director Raymond G. Viault sold 5,353 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $45.62, for a total value of $244,203.86. Following the completion of the transaction, the director now owns 85,206 shares in the company, valued at $3,887,097.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond G. Viault purchased 1,630 shares of Newell Brands stock in a transaction dated Wednesday, February 8th. The stock was bought at an average price of $45.96 per share, with a total value of $74,914.80. Following the acquisition, the director now directly owns 85,206 shares of the company’s stock, valued at $3,916,067.76. The disclosure for this purchase can be found here. 0.66% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC bought a new position in Newell Brands during the fourth quarter valued at $105,000. SevenBridge Financial Group LLC boosted its position in Newell Brands by 13.9% in the third quarter. SevenBridge Financial Group LLC now owns 2,651 shares of the company’s stock valued at $138,000 after buying an additional 324 shares during the period. Global X Management Co. LLC boosted its position in Newell Brands by 105.8% in the third quarter. Global X Management Co. LLC now owns 2,677 shares of the company’s stock valued at $141,000 after buying an additional 1,376 shares during the period. Zions Bancorporation boosted its position in Newell Brands by 1.6% in the fourth quarter. Zions Bancorporation now owns 4,426 shares of the company’s stock valued at $198,000 after buying an additional 68 shares during the period. Finally, CHICAGO TRUST Co NA bought a new position in Newell Brands during the third quarter valued at $200,000. Institutional investors own 93.22% of the company’s stock.
Newell Brands Company Profile
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.
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