Newell Brands Inc. (NWL) Earns Market Perform Rating from BMO Capital Markets
Newell Brands Inc. (NYSE:NWL)‘s stock had its “market perform” rating reissued by equities researchers at BMO Capital Markets in a note issued to investors on Thursday. They currently have a $45.00 target price on the stock, down from their previous target price of $51.00. BMO Capital Markets’ target price suggests a potential upside of 8.72% from the company’s previous close.
Several other equities research analysts have also recently weighed in on NWL. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price target on shares of Newell Brands in a research note on Thursday, June 8th. BidaskClub cut Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised 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. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target (up from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $56.57.
Newell Brands (NYSE:NWL) traded down 0.22% during trading on Thursday, hitting $41.39. The company’s stock had a trading volume of 4,154,023 shares. Newell Brands has a 12 month low of $41.25 and a 12 month high of $55.08. The firm has a 50 day moving average of $48.12 and a 200 day moving average of $50.04. The firm has a market cap of $20.29 billion, a P/E ratio of 16.53 and a beta of 1.19.
Newell Brands (NYSE:NWL) last posted its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that Newell Brands will post $3.00 earnings per share for the current year.
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In other Newell Brands news, CEO Michael B. Polk purchased 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average cost of $43.61 per share, with a total value of $218,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 609,296 shares in the company, valued at approximately $26,571,398.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott S. Cowen purchased 2,000 shares of the stock in a transaction dated Monday, September 11th. The shares were acquired at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the acquisition, 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. Corporate insiders own 0.97% of the company’s stock.
Several large investors have recently made changes to their positions in NWL. BlackRock Inc. lifted its holdings in shares of Newell Brands by 3,249.0% during the first quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock valued at $1,413,905,000 after purchasing an additional 29,079,686 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Newell Brands by 112.5% during the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after purchasing an additional 7,331,309 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Newell Brands during the second quarter valued at $124,839,000. Ameriprise Financial Inc. lifted its holdings in shares of Newell Brands by 28.1% during the second quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock valued at $417,953,000 after purchasing an additional 1,709,917 shares in the last quarter. Finally, Sentry Investments Corp. lifted its holdings in shares of Newell Brands by 75.7% during the first quarter. Sentry Investments Corp. now owns 3,712,271 shares of the company’s stock valued at $175,108,000 after purchasing an additional 1,599,100 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.
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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