Newell Brands Inc. (NYSE:NWL) had its price objective cut by BMO Capital Markets from $45.00 to $32.00 in a research note published on Tuesday morning. They currently have a market perform rating on the stock.
NWL has been the subject of several other research reports. BidaskClub lowered shares of Newell Brands from a buy rating to a hold rating in a research report on Thursday, July 13th. Zacks Investment Research lowered shares of Newell Brands from a buy rating to a hold rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co set a $61.00 price target on shares of Newell Brands and gave the stock a buy rating in a research report on Monday, August 7th. Jefferies Group LLC reaffirmed a buy rating and set a $65.00 price target (down previously from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating and set a $50.00 price target on shares of Newell Brands in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $49.57.
Newell Brands (NYSE:NWL) traded down $0.80 during trading hours on Tuesday, hitting $29.30. 11,955,600 shares of the stock were exchanged, compared to its average volume of 4,512,643. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $14,752.01, a price-to-earnings ratio of 10.49, a PEG ratio of 1.01 and a beta of 1.20. Newell Brands has a twelve month low of $29.22 and a twelve month high of $55.08.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. equities analysts expect that Newell Brands will post 2.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.14%. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
Newell Brands declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In related news, CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction on Wednesday, September 13th. The shares were purchased at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott S. Cowen acquired 2,000 shares of Newell Brands stock in a transaction on Monday, September 11th. The shares were bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the purchase, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders bought 7,100 shares of company stock valued at $309,715 over the last 90 days. Insiders own 0.97% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. bought a new position in shares of Newell Brands in the 1st quarter worth about $156,000. Tudor Investment Corp ET AL bought a new position in shares of Newell Brands in the 1st quarter worth about $386,000. Clearbridge Investments LLC lifted its position in shares of Newell Brands by 20.1% in the 1st quarter. Clearbridge Investments LLC now owns 4,961 shares of the company’s stock worth $234,000 after buying an additional 831 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Newell Brands by 1.2% in the 2nd quarter. Bank of Montreal Can now owns 888,760 shares of the company’s stock worth $47,655,000 after buying an additional 10,486 shares during the last quarter. Finally, First Financial Bank Trust Division bought a new position in shares of Newell Brands in the 2nd quarter worth about $2,078,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.
About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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