Truist Financial Boosts Newell Brands (NASDAQ:NWL) Price Target to $10.00

Newell Brands (NASDAQ:NWL) had its price target hoisted by Truist Financial from $8.00 to $10.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada upped their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a sector perform rating in a research report on Monday. Canaccord Genuity Group raised their target price on Newell Brands from $10.00 to $12.00 and gave the company a buy rating in a research report on Monday. JPMorgan Chase & Co. dropped their price target on Newell Brands from $8.00 to $7.00 and set a neutral rating for the company in a research report on Monday, July 22nd. Citigroup decreased their price objective on Newell Brands from $8.00 to $6.25 and set a neutral rating on the stock in a report on Wednesday, July 10th. Finally, Barclays raised shares of Newell Brands from an underweight rating to an equal weight rating and set a $8.00 target price for the company in a report on Tuesday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $8.82.

Newell Brands Price Performance

Shares of NWL opened at $8.35 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The stock’s 50 day moving average is $6.95 and its two-hundred day moving average is $7.49. Newell Brands has a 12 month low of $5.39 and a 12 month high of $11.06.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. As a group, sell-side analysts expect that Newell Brands will post 0.64 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.28 annualized dividend and a yield of 3.35%. Newell Brands’s payout ratio is -38.89%.

Institutional Trading of Newell Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in shares of Newell Brands during the 2nd quarter worth about $26,000. Quarry LP increased its position in shares of Newell Brands by 106.2% during the fourth quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after acquiring an additional 2,437 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Newell Brands in the 4th quarter valued at approximately $45,000. NBC Securities Inc. lifted its holdings in shares of Newell Brands by 50.5% in the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock worth $42,000 after acquiring an additional 1,780 shares during the last quarter. Finally, Gradient Investments LLC purchased a new position in shares of Newell Brands during the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

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.