Newell Brands Inc. (NYSE:NWL) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Newell Brands Inc. (NYSE:NWL) from a buy rating to a hold rating in a report issued on Tuesday, July 11th.
According to Zacks, “Newell Brands outperformed the Zacks categorized industry in the last three months on the back of its splendid earnings surprise history. Notably, Newell has delivered positive earnings surprise for almost seven years now. Further, the company remains on track with its Project Renewal Program, which is likely to generate annual cost savings of nearly $700 million by 2017 or early 2018. The company has also made significant progress on its Growth Game Plan that targets accelerating growth by simplifying and strengthening its portfolio. Also, the company’s recent dividend hike and raised normalized earnings guidance for 2017 reflect confidence in future prospects. However, the company’s significant global presence exposes it to currency woes, and any further prevalence of these headwinds in the future is likely to hurt results. Estimates have been stable ahead of the company's second quarter earnings release.”
Other research analysts also recently issued reports about the stock. UBS AG set a $60.00 target price on shares of Newell Brands and gave the company a buy rating in a research report on Tuesday, May 9th. Jefferies Group LLC upped their target price on shares of Newell Brands from $61.00 to $65.00 and gave the company a buy rating in a research report on Tuesday, May 9th. Wells Fargo & Company restated a buy rating on shares of Newell Brands in a research report on Saturday, April 22nd. B. Riley reiterated a buy rating and issued a $71.00 price target on shares of Newell Brands in a research report on Friday, April 14th. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $60.00 price target on shares of Newell Brands in a research report on Thursday, June 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Newell Brands currently has an average rating of Buy and a consensus target price of $58.07.
Shares of Newell Brands (NYSE NWL) traded up 1.12% during midday trading on Tuesday, reaching $51.26. 4,347,623 shares of the company were exchanged. The stock’s 50-day moving average price is $53.31 and its 200-day moving average price is $49.86. Newell Brands has a 52-week low of $43.43 and a 52-week high of $55.45. The company has a market capitalization of $24.76 billion, a PE ratio of 21.76 and a beta of 1.17.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that Newell Brands will post $3.13 EPS for the current year.
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In related news, Director Thomas E. Clarke sold 5,353 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $52.49, for a total value of $280,978.97. Following the completion of the transaction, the director now directly owns 66,286 shares of the company’s stock, valued at $3,479,352.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its stake in shares of Newell Brands by 26.4% in the fourth quarter. AQR Capital Management LLC now owns 46,776 shares of the company’s stock valued at $2,089,000 after buying an additional 9,778 shares in the last quarter. Quadrature Capital Ltd increased its stake in shares of Newell Brands by 15.1% in the fourth quarter. Quadrature Capital Ltd now owns 26,354 shares of the company’s stock valued at $1,177,000 after buying an additional 3,466 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Newell Brands by 9.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,115,402 shares of the company’s stock valued at $94,452,000 after buying an additional 187,725 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Newell Brands by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 2,173,617 shares of the company’s stock valued at $97,052,000 after buying an additional 22,911 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in shares of Newell Brands during the fourth quarter valued at about $1,563,000. 94.42% of the stock is owned by institutional investors and hedge funds.
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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