Newell Brands (NWL) Now Covered by Analysts at Deutsche Bank
Analysts at Deutsche Bank assumed coverage on shares of Newell Brands (NYSE:NWL) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “hold” rating on the stock.
NWL has been the topic of several other research reports. Morgan Stanley reduced their price target on shares of Newell Brands from $54.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, November 3rd. Royal Bank of Canada restated a “top pick” rating and issued a $60.00 price target on shares of Newell Brands in a research report on Tuesday, August 29th. TheStreet cut shares of Newell Brands from a “b-” rating to a “c+” rating in a research report on Tuesday, November 14th. Zacks Investment Research cut shares of Newell Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Finally, Forward View restated a “buy” rating and issued a $35.00 price target on shares of Newell Brands in a research report on Sunday, November 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Newell Brands presently has an average rating of “Hold” and a consensus target price of $47.79.
Newell Brands (NWL) traded up $0.24 during mid-day trading on Wednesday, hitting $31.40. 3,962,945 shares of the stock traded hands, compared to its average volume of 4,784,912. Newell Brands has a 1 year low of $27.45 and a 1 year high of $55.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86. The stock has a market capitalization of $15,390.00, a P/E ratio of 10.77, a PEG ratio of 1.25 and a beta of 1.10.
Newell Brands (NYSE:NWL) last released its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the 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 during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the firm posted $0.78 EPS. Newell Brands’s quarterly revenue was down 7.0% compared to the same quarter last year. equities analysts expect that Newell Brands will post 2.81 EPS for the current fiscal year.
Newell Brands declared that its board has approved a share buyback program on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, CEO Michael B. Polk purchased 7,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the completion of the acquisition, the chief executive officer now owns 616,296 shares in the company, valued at approximately $17,391,873.12. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NWL. BDO Wealth Advisors LLC bought a new position in shares of Newell Brands in the second quarter worth about $107,000. Parkside Investments LLC purchased a new stake in Newell Brands in the third quarter worth about $107,000. Harfst & Associates Inc. lifted its stake in Newell Brands by 14.4% in the second quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock worth $134,000 after acquiring an additional 315 shares during the period. BB&T Investment Services Inc. purchased a new stake in Newell Brands in the second quarter worth about $143,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Newell Brands by 52.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock worth $169,000 after acquiring an additional 1,088 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.
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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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