Newell Brands Inc. (NWL) Receives Average Recommendation of “Buy” from Analysts
Newell Brands Inc. (NYSE:NWL) has received an average recommendation of “Buy” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $56.08.
Several analysts have recently issued reports on NWL shares. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Newell Brands in a research note on Thursday, June 8th. BidaskClub downgraded Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. Zacks Investment Research downgraded Newell Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, BMO Capital Markets set a $51.00 price target on Newell Brands and gave the stock a “hold” rating in a research note on Saturday, August 5th.
In other news, CEO Michael B. Polk acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were purchased at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the transaction, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott S. Cowen acquired 2,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was purchased at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the transaction, the director now directly owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. Over the last three months, insiders bought 7,100 shares of company stock valued at $309,715. 0.97% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BDO Wealth Advisors LLC bought a new position in Newell Brands in the 2nd quarter valued at $107,000. Harfst & Associates Inc. bought a new position in Newell Brands in the 1st quarter valued at $103,000. Israel Discount Bank of New York bought a new position in Newell Brands in the 1st quarter valued at $112,000. BB&T Investment Services Inc. bought a new position in Newell Brands in the 2nd quarter valued at $143,000. Finally, Parallel Advisors LLC boosted its position in Newell Brands by 23.0% in the 1st quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock valued at $132,000 after buying an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.
Shares of Newell Brands (NYSE:NWL) traded up 0.23% during midday trading on Friday, hitting $43.90. The company had a trading volume of 5,990,681 shares. Newell Brands has a one year low of $40.88 and a one year high of $55.08. The company’s 50 day moving average is $44.92 and its 200 day moving average is $49.44. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 17.53 and a beta of 1.15.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. Equities analysts forecast that Newell Brands will post $3.00 earnings per share for the current fiscal year.
Newell Brands declared that its Board of Directors has initiated a share buyback program on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.10%. Newell Brands’s payout ratio is presently 36.95%.
Newell Brands Company Profile
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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