JPMorgan Chase & Co. Cuts Newell Brands (NASDAQ:NWL) Price Target to $7.00

Newell Brands (NASDAQ:NWL) had its price target lowered by JPMorgan Chase & Co. from $8.00 to $7.00 in a report issued on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on NWL. Wells Fargo & Company reduced their price target on shares of Newell Brands from $8.00 to $6.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Barclays raised shares of Newell Brands from an underweight rating to an equal weight rating and set a $8.00 price target for the company in a report on Tuesday, May 14th. Canaccord Genuity Group increased their price target on shares of Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a report on Monday, April 29th. Finally, Citigroup reduced their price target on shares of Newell Brands from $8.00 to $6.25 and set a neutral rating for the company in a report on Wednesday, July 10th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $8.18.

Newell Brands Stock Performance

NASDAQ:NWL opened at $6.30 on Monday. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.61. The firm’s fifty day simple moving average is $6.93 and its 200 day simple moving average is $7.50. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $2.62 billion, a PE ratio of -8.75, a PEG ratio of 1.19 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Newell Brands will post 0.6 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Friday, May 31st. Newell Brands’s payout ratio is -38.89%.

Hedge Funds Weigh In On Newell Brands

Several institutional investors have recently added to or reduced their stakes in NWL. Norges Bank acquired a new stake in Newell Brands in the 4th quarter valued at about $32,781,000. Primecap Management Co. CA increased its position in Newell Brands by 35.1% in the 4th quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock valued at $73,884,000 after acquiring an additional 2,209,672 shares in the last quarter. M&G Plc acquired a new stake in Newell Brands in the 1st quarter valued at about $9,992,000. Vanguard Group Inc. increased its position in Newell Brands by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock valued at $389,670,000 after acquiring an additional 739,295 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Newell Brands in the 4th quarter valued at about $5,843,000. 92.50% of the stock is owned by institutional investors.

Newell Brands Company Profile

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.