Newell Brands Inc. (NWL) Receives “Market Perform” Rating from Raymond James Financial, Inc.
Newell Brands Inc. (NYSE:NWL)‘s stock had its “market perform” rating reiterated by equities researchers at Raymond James Financial, Inc. in a research report issued on Friday.
A number of other equities analysts have also issued reports on the stock. Royal Bank Of Canada reissued a “top pick” rating and set a $60.00 price target on shares of Newell Brands in a research report on Tuesday, August 29th. Jefferies Group LLC reissued a “buy” rating and issued 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 lowered shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Forward View reissued a “buy” rating and issued a $58.00 price target on shares of Newell Brands in a report on Monday, September 11th. Finally, KeyCorp set a $60.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a research note on Monday, October 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.31.
Newell Brands (NYSE:NWL) last released its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share.
Newell Brands declared that its Board of Directors has authorized a share repurchase plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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In related news, Director Scott S. Cowen acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average price of $43.60 per share, with a total value of $87,200.00. Following the completion of the purchase, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael B. Polk acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were bought at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the purchase, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 7,100 shares of company stock valued at $309,715. Company insiders own 0.97% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its stake in shares of Newell Brands by 2.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 51,644 shares of the company’s stock valued at $2,204,000 after acquiring an additional 1,477 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Newell Brands by 26.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 17,295 shares of the company’s stock worth $738,000 after buying an additional 3,595 shares during the last quarter. Prudential Financial Inc. boosted its stake in Newell Brands by 0.6% in the 3rd quarter. Prudential Financial Inc. now owns 672,923 shares of the company’s stock worth $28,713,000 after buying an additional 3,690 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new stake in Newell Brands in the 3rd quarter worth about $8,359,000. Finally, Mayo Investment Advisers LLC acquired a new stake in Newell Brands in the 3rd quarter worth about $3,403,000. 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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