Newell Brands Inc. (NWL) Earns Hold Rating from Jefferies Group LLC
Newell Brands Inc. (NYSE:NWL)‘s stock had its “hold” rating restated by investment analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They presently have a $47.00 price objective on the stock. Jefferies Group LLC’s price objective points to a potential upside of 16.42% from the company’s current price.
Several other brokerages have also commented on NWL. BidaskClub raised Newell Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research lowered 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 objective on Newell Brands and gave the company a “buy” rating in a research report on Monday, August 7th. BMO Capital Markets set a $51.00 price objective on Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating and set a $50.00 price objective on shares of Newell Brands in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $56.38.
Shares of Newell Brands (NYSE NWL) traded down 0.54% on Thursday, hitting $40.37. 5,346,929 shares of the stock were exchanged. Newell Brands has a 52-week low of $40.26 and a 52-week high of $55.08. The company has a market cap of $19.79 billion, a price-to-earnings ratio of 16.12 and a beta of 1.15. The company has a 50 day moving average of $43.16 and a 200 day moving average of $49.05.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Equities research analysts forecast that Newell Brands will post $3.00 earnings per share for the current year.
Newell Brands announced that its board has approved a stock repurchase program on Tuesday, September 26th that allows the company to repurchase $256.00 million in shares. This repurchase authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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In other Newell Brands news, CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott S. Cowen acquired 2,000 shares of Newell Brands stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average price of $43.60 per share, with a total value of $87,200.00. Following the completion of the acquisition, the director now directly owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. Insiders purchased a total of 7,100 shares of company stock valued at $309,715 over the last quarter. 0.97% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. APG Asset Management N.V. increased its holdings in Newell Brands by 7.2% in the 3rd quarter. APG Asset Management N.V. now owns 642,117 shares of the company’s stock worth $27,399,000 after buying an additional 42,900 shares in the last quarter. First Financial Bank Trust Division increased its holdings in Newell Brands by 40.5% in the 3rd quarter. First Financial Bank Trust Division now owns 54,431 shares of the company’s stock worth $2,323,000 after buying an additional 15,693 shares in the last quarter. Oakbrook Investments LLC bought a new stake in Newell Brands in the 3rd quarter worth about $804,000. Osborne Partners Capital Management LLC bought a new stake in Newell Brands in the 3rd quarter worth about $3,365,000. Finally, Sumitomo Life Insurance Co. bought a new stake in Newell Brands in the 3rd quarter worth about $890,000. Institutional investors own 92.34% 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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