Newell Brands (NYSE:NWL) Cut to “C+” at TheStreet

TheStreet downgraded shares of Newell Brands (NYSE:NWL) from a b- rating to a c+ rating in a research note issued to investors on Tuesday, November 14th.

NWL has been the topic of several other reports. Morgan Stanley lowered their price target on Newell Brands from $54.00 to $38.00 and set an overweight rating on the stock in a research report on Friday, November 3rd. Royal Bank Of Canada restated a top pick rating and issued a $60.00 target price on shares of Newell Brands in a report on Tuesday, August 29th. Jefferies Group restated a buy rating and issued a $65.00 target price (down from $66.00) on shares of Newell Brands in a report on Monday, August 7th. Zacks Investment Research cut Newell Brands from a hold rating to a sell rating in a report on Tuesday, September 19th. Finally, Forward View restated a buy rating and issued a $35.00 target price on shares of Newell Brands in a report on Sunday, November 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $49.57.

Shares of Newell Brands (NYSE NWL) traded up $0.54 during mid-day trading on Tuesday, hitting $31.51. The stock had a trading volume of 9,404,472 shares, compared to its average volume of 8,835,882. Newell Brands has a one year low of $27.45 and a one year high of $55.08. The firm has a market cap of $15,443.05, a PE ratio of 10.98, a PEG ratio of 1.27 and a beta of 1.11. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.

Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. sell-side analysts predict that Newell Brands will post 2.81 EPS for the current year.

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.92%. Newell Brands’s payout ratio is presently 35.52%.

Newell Brands declared that its board has approved a share repurchase program on Tuesday, September 26th that allows the company to repurchase $256.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other news, CEO Michael B. Polk purchased 7,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the completion of the purchase, the chief executive officer now directly owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott S. Cowen purchased 2,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were purchased 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 of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders bought 14,100 shares of company stock worth $507,255 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC boosted its holdings in Newell Brands by 1.6% during the second quarter. Penserra Capital Management LLC now owns 4,160 shares of the company’s stock valued at $223,000 after purchasing an additional 66 shares in the last quarter. QS Investors LLC boosted its holdings in Newell Brands by 1.1% during the second quarter. QS Investors LLC now owns 6,040 shares of the company’s stock valued at $324,000 after purchasing an additional 68 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Newell Brands by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,891 shares of the company’s stock valued at $1,924,000 after purchasing an additional 107 shares in the last quarter. Bellwether Investment Group LLC boosted its holdings in Newell Brands by 2.0% during the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after purchasing an additional 110 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Newell Brands by 1.7% during the second quarter. Private Advisor Group LLC now owns 13,503 shares of the company’s stock valued at $721,000 after purchasing an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 94.39% of the company’s stock.

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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.

Analyst Recommendations for Newell Brands (NYSE:NWL)

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