Newell Brands Inc. (NWL) Earns “Buy” Rating from Forward View
Forward View reiterated their buy rating on shares of Newell Brands Inc. (NYSE:NWL) in a research report sent to investors on Monday morning. They currently have a $58.00 target price on the stock. Forward View also issued estimates for Newell Brands’ Q3 2017 earnings at $0.89 EPS and Q4 2017 earnings at $0.93 EPS.
A number of other equities research analysts have also issued reports on NWL. Royal Bank Of Canada reaffirmed a buy rating and set a $60.00 target price on shares of Newell Brands in a research report on Thursday, June 8th. BidaskClub lowered Newell Brands from a buy rating to a hold rating in a research report on Thursday, June 22nd. Zacks Investment Research raised Newell Brands from a hold rating to a buy rating and set a $60.00 target price on the stock in a research report on Saturday, July 1st. Jefferies Group LLC reaffirmed a buy rating and set a $66.00 target price (up from $65.00) on shares of Newell Brands in a research report on Thursday, July 6th. Finally, BMO Capital Markets set a $51.00 target price on Newell Brands and gave the stock a hold rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Newell Brands has a consensus rating of Buy and an average target price of $57.36.
Shares of Newell Brands (NWL) opened at 44.22 on Monday. Newell Brands has a 52 week low of $42.88 and a 52 week high of $55.08. The stock’s 50 day moving average is $49.44 and its 200-day moving average is $50.26. The company has a market cap of $21.67 billion, a price-to-earnings ratio of 17.66 and a beta of 1.19.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. The company 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%. Newell Brands’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that Newell Brands will post $3.01 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.23 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.08%. Newell Brands’s dividend payout ratio (DPR) is currently 36.95%.
In other news, Director Scott S. Cowen bought 2,000 shares of the stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the purchase, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael B. Polk bought 5,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The disclosure for this purchase can be found here. Insiders acquired 7,046 shares of company stock worth $307,669 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NWL. BlackRock Inc. grew its stake in Newell Brands by 3,249.0% in the first quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock valued at $1,413,905,000 after purchasing an additional 29,079,686 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 valued at $742,686,000 after purchasing an additional 7,331,309 shares in the last quarter. Jennison Associates LLC purchased a new position in Newell Brands in the second quarter valued at about $124,839,000. Ameriprise Financial Inc. grew its stake in Newell Brands by 28.1% in the second quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock valued at $417,953,000 after purchasing an additional 1,709,917 shares in the last quarter. Finally, Sentry Investments Corp. grew its stake in Newell Brands by 75.7% in the first quarter. Sentry Investments Corp. now owns 3,712,271 shares of the company’s stock valued at $175,108,000 after purchasing an additional 1,599,100 shares in the last quarter. Hedge funds and other institutional investors own 92.43% 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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