Wells Fargo & Co. Initiates Coverage on Newell Rubbermaid (NWL)
Wells Fargo & Co. began coverage on shares of Newell Rubbermaid (NYSE:NWL) in a research note issued on Monday, Analyst Ratings Net reports. The firm set an “outperform” rating on the stock.
A number of other firms have also recently commented on NWL. Analysts at Ned Davis Research upgraded shares of Newell Rubbermaid from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 30th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Newell Rubbermaid in a research note to investors on Tuesday, August 13th. They now have a $28.00 price target on the stock. Finally, analysts at Raymond James raised their price target on shares of Newell Rubbermaid from $30.00 to $32.00 in a research note to investors on Monday, July 29th. They now have a “strong-buy” rating on the stock. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $29.64.
Newell Rubbermaid (NYSE:NWL) traded down 2.03% on Monday, hitting $26.98. 1,274,575 shares of the company’s stock traded hands. Newell Rubbermaid has a 52 week low of $19.36 and a 52 week high of $28.47. The stock has a 50-day moving average of $26.49 and a 200-day moving average of $26.56. The company has a market cap of $7.770 billion and a price-to-earnings ratio of 21.72.
Newell Rubbermaid (NYSE:NWL) last posted its quarterly earnings results on Friday, July 26th. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.49 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis.
Newell Rubbermaid Inc is a global marketer of consumer and commercial products. The Company’s products are marketed under a portfolio of brands, including Rubbermaid, Levolor, Goody, Calphalon, Sharpie, Paper Mate, Parker, Waterman, Irwin, Lenox, Graco, Aprica and Dymo.
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