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Newell Rubbermaid (NYSE:NWL)‘s stock had its “neutral” rating restated by Zacks in a report released on Wednesday. They currently have a $35.00 price target on the stock. Zacks‘s price target would suggest a potential upside of 4.54% from the company’s current price.

Zacks’ analyst wrote, “Newell posted better-than-expected bottom-line results in the second quarter driven by higher sales volume, increase in gross margin and reduced share count. Further, the company’s core sales grew 4.6% reflecting solid performances across Writing, Tools and Commercial Products segments. Going forward, we believe that Newell’s Project Renewal program will help in reducing the operating costs and complexities of the organization, while increasing investment in core business areas. We are also optimistic about the company’s initiatives to strengthen its core business as evident from the recently signed deal to acquire Ignite Holdings. However, we remain slightly anxious about Newell’s future performance due to sluggish economic recovery in the U.S. and a slowdown in the emerging markets. Thus, our long-term Neutral recommendation on the stock remains in place.”

NWL has been the subject of a number of other recent research reports. Analysts at B. Riley raised their price target on shares of Newell Rubbermaid from $30.00 to $35.00 in a research note on Monday, August 4th. They now have a “neutral” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Newell Rubbermaid from $33.00 to $36.00 in a research note on Friday, August 1st. They now have an “overweight” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Newell Rubbermaid from $34.00 to $36.00 in a research note on Friday, August 1st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.33.

In other Newell Rubbermaid news, CAO John B. Ellis sold 2,223 shares of Newell Rubbermaid stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $33.30, for a total value of $74,025.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Newell Rubbermaid (NYSE:NWL) traded down 0.15% during mid-day trading on Wednesday, hitting $33.43. 400,653 shares of the company’s stock traded hands. Newell Rubbermaid has a one year low of $24.32 and a one year high of $33.81. The stock has a 50-day moving average of $32.09 and a 200-day moving average of $30.72. The company has a market cap of $9.153 billion and a price-to-earnings ratio of 18.61.

Newell Rubbermaid (NYSE:NWL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Newell Rubbermaid will post $2.00 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, August 27th.

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.

To view Zacks’ full report, visit Zacks’ official website.

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