Newell Rubbermaid Inc. (NWL) Raised to “Buy” at Zacks Investment Research
Newell Rubbermaid Inc. (NYSE:NWL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $59.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.04% from the company’s current price.
According to Zacks, “Newell Brands remains keen on solidifying its portfolio by investing in key segments, reducing activities with low profitability, and exiting underperforming operations. Evidently, Newell recently merged with Jarden and sold its window covering brands, in order to sharpen its focus on creating a faster growing and higher margin entity. Also, with its Project Renewal Program on track, the company is set to generate its targeted cost savings, which should boost earnings and fuel growth. Additionally, Newell’s solid financials help it drive shareholder value and future development via value-added investments. Thanks to these factors, the company flaunts a positive record of earnings surprises in recent quarters, with estimates being stable ahead of the company’s third quarter earnings release. However, Newell’s significant global presence exposes it to adverse currency movements, which remains a threat to future results.”
A number of other research analysts have also issued reports on NWL. B. Riley reiterated a “buy” rating and set a $60.00 price target on shares of Newell Rubbermaid in a research note on Monday, August 1st. Citigroup Inc. restated a “buy” rating and set a $61.00 target price on shares of Newell Rubbermaid in a research report on Tuesday, August 2nd. Royal Bank Of Canada restated a “top pick” rating and set a $60.00 target price on shares of Newell Rubbermaid in a research report on Monday, August 1st. RBC Capital Markets restated a “buy” rating on shares of Newell Rubbermaid in a research report on Monday, August 1st. Finally, Deutsche Bank AG upped their target price on shares of Newell Rubbermaid from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Newell Rubbermaid currently has a consensus rating of “Buy” and an average price target of $57.27.
Shares of Newell Rubbermaid (NYSE:NWL) traded down 0.49% during midday trading on Monday, reaching $52.40. The company’s stock had a trading volume of 1,449,871 shares. The stock has a market capitalization of $25.27 billion, a PE ratio of 50.82 and a beta of 1.18. Newell Rubbermaid has a 52 week low of $33.26 and a 52 week high of $55.45. The company has a 50 day moving average price of $52.74 and a 200-day moving average price of $48.71.
Newell Rubbermaid (NYSE:NWL) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Newell Rubbermaid had a net margin of 3.91% and a return on equity of 18.55%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The business’s revenue was up 147.2% compared to the same quarter last year. On average, equities research analysts expect that Newell Rubbermaid will post $2.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Monday, August 29th. Newell Rubbermaid’s payout ratio is 76.00%.
Several institutional investors have recently made changes to their positions in NWL. Vanguard Group Inc. increased its position in shares of Newell Rubbermaid by 82.8% in the second quarter. Vanguard Group Inc. now owns 41,447,370 shares of the company’s stock valued at $2,013,099,000 after buying an additional 18,777,228 shares during the last quarter. Capital International Investors increased its position in shares of Newell Rubbermaid by 1.7% in the second quarter. Capital International Investors now owns 18,225,502 shares of the company’s stock valued at $885,213,000 after buying an additional 307,407 shares during the last quarter. State Street Corp increased its position in shares of Newell Rubbermaid by 62.7% in the second quarter. State Street Corp now owns 17,186,871 shares of the company’s stock valued at $834,765,000 after buying an additional 6,623,143 shares during the last quarter. Capital World Investors increased its position in shares of Newell Rubbermaid by 43.8% in the second quarter. Capital World Investors now owns 14,080,762 shares of the company’s stock valued at $683,903,000 after buying an additional 4,285,762 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Newell Rubbermaid by 15.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,519,953 shares of the company’s stock valued at $656,664,000 after buying an additional 1,762,871 shares during the last quarter. 93.12% of the stock is currently owned by institutional investors and hedge funds.
About Newell Rubbermaid
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
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