Newell Brands Inc. (NWL) Price Target Cut to $42.00
Newell Brands Inc. (NYSE:NWL) had its target price reduced by analysts at Citigroup Inc. from $63.00 to $42.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Citigroup Inc.’s price target would indicate a potential upside of 39.95% from the stock’s current price.
NWL has been the subject of several other research reports. Morgan Stanley decreased their price target on Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank Of Canada reiterated a “top pick” rating and set a $60.00 price target on shares of Newell Brands in a report on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of Newell Brands in a report on Thursday, July 6th. Zacks Investment Research downgraded Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Finally, Forward View reiterated a “buy” rating and set a $58.00 price target on shares of Newell Brands in a report on Monday, September 11th. Two research 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’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.47.
Shares of Newell Brands (NWL) traded down $10.77 during trading on Friday, reaching $30.01. The company had a trading volume of 47,531,743 shares, compared to its average volume of 6,814,859. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.94. The firm has a market cap of $14.71 billion, a P/E ratio of 10.46, a P/E/G ratio of 0.93 and a beta of 1.20.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the company posted $0.78 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. sell-side analysts expect that Newell Brands will post 2.8 EPS for the current fiscal year.
Newell Brands declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
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In other news, CEO Michael B. Polk purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average price of $43.61 per share, with a total value of $218,050.00. Following the transaction, the chief executive officer now directly 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 SEC, which is available through the SEC website. Also, Director Scott S. Cowen acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following 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 have bought a total of 7,100 shares of company stock worth $309,715 in the last ninety days. Insiders own 0.97% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC lifted its holdings in Newell Brands by 1.6% during the 2nd quarter. Penserra Capital Management LLC now owns 4,160 shares of the company’s stock worth $223,000 after purchasing an additional 66 shares in the last quarter. QS Investors LLC lifted its holdings in Newell Brands by 1.1% during the 2nd quarter. QS Investors LLC now owns 6,040 shares of the company’s stock worth $324,000 after purchasing an additional 68 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Newell Brands by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,891 shares of the company’s stock worth $1,924,000 after purchasing an additional 107 shares in the last quarter. Bellwether Investment Group LLC lifted its holdings in Newell Brands by 2.0% during the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock worth $295,000 after purchasing an additional 110 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Newell Brands by 1.7% during the 2nd quarter. Private Advisor Group LLC now owns 13,503 shares of the company’s stock worth $721,000 after purchasing an additional 231 shares in the last quarter. 92.24% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Company Profile
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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