Newell Brands Inc. (NWL) Shares Gap Down to $48.72
Newell Brands Inc. (NYSE:NWL) gapped down before the market opened on Wednesday . The stock had previously closed at $50.22, but opened at $48.72. Newell Brands shares last traded at $47.03, with a volume of 17,971,202 shares traded.
Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued a “top pick” rating and set a $60.00 target price on shares of Newell Brands in a research note on Tuesday, August 29th. Jefferies Group LLC reissued a “buy” rating and set a $66.00 target price (up from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Saturday, July 1st. BidaskClub lowered shares of Newell Brands from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, UBS AG set a $60.00 price target on shares of Newell Brands and gave the company a “buy” rating in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Newell Brands has a consensus rating of “Buy” and an average price target of $58.07.
The firm has a market cap of $23.05 billion, a price-to-earnings ratio of 18.78 and a beta of 1.19. The firm has a 50-day moving average price of $50.64 and a 200-day moving average price of $50.37.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that Newell Brands Inc. will post $3.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
Several hedge funds and other institutional investors have recently made changes to their positions in NWL. Waldron LP purchased a new stake in shares of Newell Brands in the first quarter valued at about $206,000. IFP Advisors Inc lifted its holdings in shares of Newell Brands by 9.0% in the first quarter. IFP Advisors Inc now owns 4,544 shares of the company’s stock valued at $214,000 after purchasing an additional 374 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Newell Brands by 2,004.5% in the first quarter. Canada Pension Plan Investment Board now owns 60,105 shares of the company’s stock valued at $2,835,000 after purchasing an additional 57,249 shares in the last quarter. Geneva Advisors LLC lifted its holdings in shares of Newell Brands by 5.1% in the first quarter. Geneva Advisors LLC now owns 7,776 shares of the company’s stock valued at $367,000 after purchasing an additional 374 shares in the last quarter. Finally, Trillium Asset Management LLC lifted its holdings in shares of Newell Brands by 11.1% in the first quarter. Trillium Asset Management LLC now owns 304,122 shares of the company’s stock valued at $14,345,000 after purchasing an additional 30,495 shares in the last quarter. 92.43% of the stock is currently owned by institutional investors.
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About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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