Newell Brands (NASDAQ:NWL) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Newell Brands (NASDAQ:NWL) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on NWL. Citigroup decreased their price target on shares of Newell Brands from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Monday, November 2nd. UBS Group boosted their price target on shares of Newell Brands from $5.50 to $5.75 and gave the company a “neutral” rating in a report on Monday, November 2nd. Royal Bank Of Canada increased their price objective on shares of Newell Brands from $4.00 to $5.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $5.75 price objective on shares of Newell Brands in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of Newell Brands in a report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Newell Brands presently has an average rating of “Hold” and an average target price of $6.62.

Newell Brands Price Performance

Shares of NWL stock opened at $5.47 on Friday. The stock has a 50 day moving average of $5.65 and a two-hundred day moving average of $4.87. The company has a current ratio of 1.27, a quick ratio of 0.67 and a debt-to-equity ratio of 2.05. Newell Brands has a 12 month low of $3.08 and a 12 month high of $7.13. The company has a market capitalization of $2.33 billion, a P/E ratio of -7.10, a P/E/G ratio of 0.76 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. Newell Brands had a positive return on equity of 13.41% and a negative net margin of 4.42%. Newell Brands’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. As a group, equities analysts expect that Newell Brands will post 0.76 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.1%. Newell Brands’s dividend payout ratio is presently -36.36%.

Hedge Funds Weigh In On Newell Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. King Luther Capital Management Corp grew its position in Newell Brands by 1.6% in the third quarter. King Luther Capital Management Corp now owns 1,952,627 shares of the company’s stock valued at $10,310,000 after acquiring an additional 30,000 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Newell Brands by 54.2% during the third quarter. Maryland State Retirement & Pension System now owns 95,444 shares of the company’s stock valued at $504,000 after acquiring an additional 33,540 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Newell Brands by 35.0% during the third quarter. Illinois Municipal Retirement Fund now owns 228,101 shares of the company’s stock valued at $1,204,000 after acquiring an additional 59,111 shares during the period. Fulcrum Asset Management LLP bought a new position in shares of Newell Brands during the third quarter valued at $83,000. Finally, Uhlmann Price Securities LLC boosted its stake in shares of Newell Brands by 2.2% in the 3rd quarter. Uhlmann Price Securities LLC now owns 224,490 shares of the company’s stock valued at $1,185,000 after purchasing an additional 4,739 shares in the last quarter. 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.