Newell Brands Inc. (NYSE:NWL) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Newell Brands Inc. (NYSE:NWL) from a hold rating to a buy rating in a research report report published on Wednesday, July 12th. The brokerage currently has $59.00 price objective on the stock.
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.”
Several other equities analysts have also issued reports on the company. Jefferies Group LLC reiterated a buy rating and issued a $66.00 target price (up previously from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. BidaskClub raised Newell Brands from a hold rating to a buy rating in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a buy rating and set a $60.00 target price on shares of Newell Brands in a report on Thursday, June 8th. BMO Capital Markets set a $51.00 price target on Newell Brands and gave the company a hold rating in a research report on Monday, May 8th. Finally, UBS AG set a $60.00 price target on Newell Brands and gave the company a buy rating in a research report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $58.07.
Newell Brands (NWL) opened at 51.31 on Wednesday. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 21.78 and a beta of 1.17. The company’s 50-day moving average is $53.31 and its 200 day moving average is $49.86. Newell Brands has a 52 week low of $43.43 and a 52 week high of $55.45.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. On average, analysts forecast that Newell Brands will post $3.13 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Newell Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 46,571,725 shares of the company’s stock worth $2,196,788,000 after buying an additional 1,584,954 shares in the last quarter. BlackRock Inc. increased its position in Newell Brands by 3,249.0% in the first quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock worth $1,413,905,000 after buying an additional 29,079,686 shares in the last quarter. Bank of New York Mellon Corp increased its position in Newell Brands by 112.5% in the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock worth $742,686,000 after buying an additional 7,331,309 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Newell Brands by 6.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,876,886 shares of the company’s stock worth $465,892,000 after buying an additional 563,331 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in Newell Brands by 3.6% in the first quarter. Neuberger Berman Group LLC now owns 7,205,042 shares of the company’s stock worth $339,862,000 after buying an additional 249,524 shares in the last quarter. Institutional investors and hedge funds own 94.42% 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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