Newell Brands (NASDAQ:NWL) Rating Lowered to Market Perform at Raymond James

Newell Brands (NASDAQ:NWLGet Free Report) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Monday, Briefing.com reports.

NWL has been the subject of a number of other reports. TheStreet downgraded shares of Newell Brands from a “c-” rating to a “d” rating in a research report on Friday, October 27th. Barclays increased their target price on Newell Brands from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, January 16th. Royal Bank of Canada cut their target price on shares of Newell Brands from $12.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, October 30th. StockNews.com raised Newell Brands from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. Finally, Morgan Stanley decreased their price objective on Newell Brands from $11.00 to $8.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.55.

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Newell Brands Price Performance

Shares of NASDAQ NWL opened at $6.85 on Monday. Newell Brands has a fifty-two week low of $6.49 and a fifty-two week high of $15.60. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.63 and a current ratio of 1.16. The company has a market cap of $2.84 billion, a PE ratio of -7.21 and a beta of 0.94. The business has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $8.61.

Newell Brands (NASDAQ:NWLGet Free Report) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $1.98 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, equities analysts expect that Newell Brands will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Newell Brands

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake in Newell Brands by 481.6% during the third quarter. FMR LLC now owns 5,406,274 shares of the company’s stock worth $48,819,000 after acquiring an additional 4,476,644 shares during the last quarter. Norges Bank acquired a new position in Newell Brands in the fourth quarter valued at about $32,781,000. Nuveen Asset Management LLC boosted its stake in Newell Brands by 39.2% during the second quarter. Nuveen Asset Management LLC now owns 11,259,689 shares of the company’s stock worth $97,959,000 after buying an additional 3,168,690 shares during the period. State Street Corp increased its position in shares of Newell Brands by 12.2% during the first quarter. State Street Corp now owns 25,151,594 shares of the company’s stock valued at $312,886,000 after acquiring an additional 2,732,905 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Newell Brands by 258.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,637,192 shares of the company’s stock valued at $32,844,000 after acquiring an additional 2,623,088 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Company Profile

(Get Free Report)

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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Analyst Recommendations for Newell Brands (NASDAQ:NWL)

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