Newell Brands Inc. (NWL) Stock Rating Lowered by Royal Bank Of Canada
Newell Brands Inc. (NYSE:NWL) was downgraded by Royal Bank Of Canada from a “top pick” rating to an “outperform” rating in a research report issued on Friday, MarketBeat.com reports. They presently have a $35.00 price target on the stock, down from their previous price target of $60.00. Royal Bank Of Canada’s price objective suggests a potential upside of 13.75% from the company’s previous close.
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 price target on Newell Brands and gave the stock a “buy” rating in a report on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price target (down previously from $66.00) on shares of Newell Brands in a report on Monday, August 7th. Forward View reissued a “buy” rating and set a $58.00 price target on shares of Newell Brands in a report on Monday, September 11th. Finally, KeyCorp set a $60.00 price target on Newell Brands and gave the stock a “buy” rating in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $52.47.
Newell Brands (NYSE:NWL) traded up $0.76 on Friday, hitting $30.77. The stock had a trading volume of 18,716,402 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 $15,080.38, a price-to-earnings ratio of 10.72, a PEG ratio of 0.95 and a beta of 1.20.
Newell Brands (NYSE:NWL) last posted its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. equities research analysts predict that Newell Brands will post 2.81 earnings per share for the current year.
Newell Brands announced that its board has initiated a share buyback plan on Tuesday, September 26th that authorizes the company to buyback $256.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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In related news, CEO Michael B. Polk purchased 5,000 shares of Newell Brands stock in a transaction dated 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 transaction, the chief executive officer now owns 609,296 shares in the company, valued at $26,571,398.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott S. Cowen purchased 2,000 shares of Newell Brands stock in a transaction dated Monday, September 11th. The shares were bought at an average price of $43.60 per share, with a total value of $87,200.00. Following the completion of the transaction, the director now owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 7,100 shares of company stock valued at $309,715. Insiders own 0.97% of the company’s stock.
Several hedge funds have recently bought and sold shares of NWL. Penserra Capital Management LLC raised its holdings in Newell Brands by 1.6% in the 2nd quarter. Penserra Capital Management LLC now owns 4,160 shares of the company’s stock valued at $223,000 after acquiring an additional 66 shares during the last quarter. QS Investors LLC grew its stake in shares of Newell Brands by 1.1% during the 2nd quarter. QS Investors LLC now owns 6,040 shares of the company’s stock valued at $324,000 after buying an additional 68 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of 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 valued at $1,924,000 after buying an additional 107 shares during the period. Bellwether Investment Group LLC grew its stake in shares of Newell Brands by 2.0% during the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after buying an additional 110 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of Newell Brands by 1.7% during the 2nd quarter. Private Advisor Group LLC now owns 13,503 shares of the company’s stock valued at $721,000 after buying an additional 231 shares during the period. Institutional investors own 92.24% 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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