Newell Brands (NASDAQ:NWL) Stock Jumps 9.7% – What’s Next?

Newell Brands Inc. (NASDAQ:NWL)’s stock price was up 9.7% on Monday. The stock traded as high as $5.65 and last traded at $5.6850. 1,902,778 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 7,565,093 shares. The stock had previously closed at $5.18.

Wall Street Analysts Forecast Growth

NWL has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their price objective on Newell Brands from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. UBS Group reissued a “neutral” rating on shares of Newell Brands in a report on Thursday, October 22nd. Wall Street Zen upgraded shares of Newell Brands from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Royal Bank Of Canada increased their price objective on Newell Brands from $4.00 to $5.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley restated an “underweight” rating and issued a $5.75 target price on shares of Newell Brands in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Newell Brands presently has a consensus rating of “Hold” and a consensus target price of $6.66.

Newell Brands Price Performance

The firm’s fifty day moving average price is $5.68 and its 200-day moving average price is $4.83. The company has a quick ratio of 0.67, a current ratio of 1.27 and a debt-to-equity ratio of 2.05. The stock has a market cap of $2.48 billion, a P/E ratio of -7.58, a PEG ratio of 1.29 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Newell Brands had a negative net margin of 4.42% and a positive return on equity of 13.41%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 EPS. Analysts forecast that Newell Brands Inc. will post 0.76 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were issued a dividend of $0.07 per share. The ex-dividend date was Monday, August 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.8%. Newell Brands’s dividend payout ratio is -52.83%.

Insider Activity at Newell Brands

In other news, insider Bradford Turner sold 100,000 shares of Newell Brands stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $6.16, for a total transaction of $616,000.00. Following the completion of the transaction, the insider directly owned 433,398 shares in the company, valued at approximately $2,669,731.68. This trade represents a 18.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.64% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

A number of institutional investors and hedge funds have recently made changes to their positions in NWL. AXQ Capital LP purchased a new position in Newell Brands during the second quarter valued at approximately $3,851,000. Bank of America Corp DE purchased a new position in shares of Newell Brands in the 2nd quarter valued at $6,972,000. Louisiana State Employees Retirement System purchased a new position in shares of Newell Brands in the 1st quarter valued at $638,000. Jupiter Topco LLC bought a new position in shares of Newell Brands in the 2nd quarter worth $1,162,000. Finally, Hsbc Holdings PLC raised its position in shares of Newell Brands by 264.0% in the 2nd quarter. Hsbc Holdings PLC now owns 240,392 shares of the company’s stock worth $1,447,000 after acquiring an additional 174,357 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Company Profile

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer’s and Sistema.

The company’s products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.