Newell Brands (NASDAQ:NWL) Rating Lowered to Strong Sell at Citigroup

Citigroup cut shares of Newell Brands (NASDAQ:NWL) from a hold rating to a strong sell rating in a report published on Tuesday morning, Zacks.com reports.

NWL has been the topic of a number of other reports. JPMorgan Chase & Co. cut their target price on shares of Newell Brands from $8.00 to $7.00 and set a neutral rating on the stock in a research note on Monday, July 22nd. Truist Financial upped their target price on shares of Newell Brands from $8.00 to $10.00 and gave the stock a hold rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company a hold rating in a research note on Monday, July 29th. Barclays upgraded shares of Newell Brands from an underweight rating to an equal weight rating and set a $8.00 price target on the stock in a research note on Tuesday, May 14th. Finally, Canaccord Genuity Group increased their price target on shares of Newell Brands from $10.00 to $12.00 and gave the company a buy rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Newell Brands presently has an average rating of Hold and an average price target of $8.82.

Newell Brands Stock Up 5.8 %

Shares of NWL opened at $7.33 on Tuesday. The stock has a market capitalization of $3.04 billion, a PE ratio of -10.18, a P/E/G ratio of 1.47 and a beta of 0.88. Newell Brands has a 1 year low of $5.39 and a 1 year high of $10.72. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98. The company’s 50-day simple moving average is $6.90 and its 200-day simple moving average is $7.42.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.15. The business 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 business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Analysts forecast that Newell Brands will post 0.64 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, August 30th. Newell Brands’s dividend payout ratio is presently -38.89%.

Institutional Investors Weigh In On Newell Brands

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

About Newell Brands

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.