Jefferies Group LLC Lowers Newell Brands Inc. (NWL) to Hold
Jefferies Group LLC lowered shares of Newell Brands Inc. (NYSE:NWL) from a buy rating to a hold rating in a report published on Monday, Marketbeat.com reports. Jefferies Group LLC currently has $49.00 price objective on the stock, down from their previous price objective of $63.00. Jefferies Group also issued estimates for Newell Brands’ Q3 2017 earnings at $0.93 EPS, Q4 2017 earnings at $0.86 EPS, FY2017 earnings at $3.00 EPS, FY2018 earnings at $3.60 EPS, FY2018 earnings at $3.30 EPS, FY2019 earnings at $4.20 EPS and FY2019 earnings at $3.68 EPS.
NWL has been the topic of several other research reports. Royal Bank Of Canada reissued a top pick rating and set a $60.00 price objective on shares of Newell Brands in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Newell Brands from a hold rating to a buy rating and set a $60.00 price objective on the stock in a research note on Saturday, July 1st. Forward View reissued a buy rating and set a $58.00 price objective on shares of Newell Brands in a research note on Monday. BidaskClub lowered shares of Newell Brands from a sell rating to a strong sell rating in a research note on Thursday, August 24th. Finally, J P Morgan Chase & Co set a $61.00 price objective on shares of Newell Brands and gave the stock a buy rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Newell Brands currently has an average rating of Buy and a consensus price target of $57.36.
Shares of Newell Brands (NWL) opened at 44.22 on Monday. Newell Brands has a 1-year low of $42.88 and a 1-year high of $55.08. The stock has a market cap of $21.67 billion, a price-to-earnings ratio of 17.66 and a beta of 1.19. The firm has a 50-day moving average of $49.44 and a 200 day moving average of $50.26.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping 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 business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Newell Brands’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that Newell Brands will post $3.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.08%. Newell Brands’s dividend payout ratio is presently 36.95%.
In related news, CEO Michael B. Polk acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were bought at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the transaction, the chief executive officer now directly owns 609,296 shares in the company, valued at $26,571,398.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott S. Cowen acquired 2,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the transaction, the director now owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,046 shares of company stock worth $307,669. Insiders own 0.97% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Newell Brands by 0.5% during the first quarter. Fifth Third Bancorp now owns 7,137 shares of the company’s stock valued at $337,000 after purchasing an additional 39 shares during the period. Cleararc Capital Inc. lifted its position in Newell Brands by 0.5% during the first quarter. Cleararc Capital Inc. now owns 10,902 shares of the company’s stock valued at $514,000 after purchasing an additional 51 shares during the period. Penserra Capital Management LLC lifted its position in Newell Brands by 1.6% during the second quarter. Penserra Capital Management LLC now owns 4,160 shares of the company’s stock valued at $223,000 after purchasing an additional 66 shares during the period. QS Investors LLC lifted its position in Newell Brands by 1.1% during the second quarter. QS Investors LLC now owns 6,040 shares of the company’s stock valued at $324,000 after purchasing an additional 68 shares during the period. Finally, Savant Capital LLC lifted its position in Newell Brands by 1.9% during the first quarter. Savant Capital LLC now owns 4,868 shares of the company’s stock valued at $230,000 after purchasing an additional 90 shares during the period. Institutional investors own 92.43% of the company’s stock.
Newell Brands Company Profile
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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