Newell Brands Inc. (NWL) Shares Gap Down to $48.72
Newell Brands Inc. (NYSE:NWL) shares gapped down prior to trading 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 trading hands.
NWL has been the subject of several analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 target price on shares of Newell Brands in a research note on Thursday, June 8th. BidaskClub downgraded shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Saturday, July 1st. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 target price (up previously from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. Finally, BMO Capital Markets set a $51.00 price target on Newell Brands and gave the company a “hold” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $57.93.
The stock’s 50-day moving average price is $50.19 and its 200 day moving average price is $50.31. The firm has a market cap of $21.94 billion, a P/E ratio of 17.88 and a beta of 1.19.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. On average, equities research analysts anticipate that Newell Brands Inc. will post $3.07 earnings per share for the current year.
The firm also recently announced 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 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is currently 36.95%.
Several hedge funds have recently made changes to their positions in the business. Lord Abbett & CO. LLC lifted its position in shares of Newell Brands by 57.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 3,200,022 shares of the company’s stock worth $171,585,000 after acquiring an additional 1,167,393 shares during the period. Toronto Dominion Bank lifted its position in shares of Newell Brands by 24.4% in the 2nd quarter. Toronto Dominion Bank now owns 168,861 shares of the company’s stock worth $9,053,000 after acquiring an additional 33,082 shares during the period. Cetera Investment Advisers bought a new stake in shares of Newell Brands in the 2nd quarter worth approximately $263,000. WINTON GROUP Ltd bought a new stake in shares of Newell Brands in the 2nd quarter worth approximately $202,000. Finally, Sterling Capital Management LLC lifted its position in shares of Newell Brands by 2.8% in the 2nd quarter. Sterling Capital Management LLC now owns 1,030,125 shares of the company’s stock worth $55,235,000 after acquiring an additional 27,852 shares during the period. Institutional investors own 92.43% of the company’s stock.
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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