Newell Brands (NWL) Price Target Increased to $27.00 by Analysts at Citigroup

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Newell Brands (NYSE:NWL) had its target price lifted by Citigroup from $25.00 to $27.00 in a research note published on Tuesday morning, Marketbeat.com reports. Citigroup currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Wells Fargo & Co reissued a buy rating on shares of Newell Brands in a research report on Friday, November 2nd. TheStreet downgraded Newell Brands from a c rating to a d rating in a research report on Friday, November 2nd. Deutsche Bank raised their price objective on Newell Brands from $20.00 to $21.00 and gave the stock a hold rating in a research report on Monday, November 5th. Jefferies Financial Group cut their price objective on Newell Brands to $20.00 and set a hold rating for the company in a research report on Monday, November 5th. Finally, Royal Bank of Canada reissued a hold rating and set a $24.00 price objective on shares of Newell Brands in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Newell Brands currently has an average rating of Hold and a consensus target price of $26.73.

Shares of NYSE:NWL opened at $22.68 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53. The stock has a market cap of $10.72 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 3.87 and a beta of 0.92. Newell Brands has a 12-month low of $15.11 and a 12-month high of $32.58.

Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, November 2nd. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.55. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.34 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. On average, sell-side analysts forecast that Newell Brands will post 1.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, November 29th. Newell Brands’s dividend payout ratio (DPR) is 33.45%.

In related news, Director Brett Icahn acquired 100,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average price of $20.03 per share, for a total transaction of $2,003,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James L. Cunningham III sold 22,331 shares of Newell Brands stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $23.45, for a total value of $523,661.95. Following the completion of the transaction, the senior vice president now owns 7,321 shares of the company’s stock, valued at approximately $171,677.45. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NWL. Pzena Investment Management LLC purchased a new position in shares of Newell Brands in the 2nd quarter valued at about $427,655,000. Franklin Resources Inc. boosted its stake in shares of Newell Brands by 4,814.0% in the 3rd quarter. Franklin Resources Inc. now owns 11,308,700 shares of the company’s stock valued at $229,568,000 after buying an additional 11,078,567 shares during the period. BlackRock Inc. boosted its stake in shares of Newell Brands by 10.7% in the 3rd quarter. BlackRock Inc. now owns 41,188,089 shares of the company’s stock valued at $836,120,000 after buying an additional 3,982,751 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Newell Brands by 15.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 14,040,672 shares of the company’s stock valued at $285,027,000 after buying an additional 1,906,362 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Newell Brands by 90.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,843,491 shares of the company’s stock valued at $47,544,000 after buying an additional 877,661 shares during the period. Institutional investors and hedge funds own 98.42% of the company’s stock.

About Newell Brands

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.

Further Reading: The Discount Rate – What You Need to Know

Analyst Recommendations for Newell Brands (NYSE:NWL)

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