Barclays Raises Newell Brands (NASDAQ:NWL) Price Target to $7.00

Newell Brands (NASDAQ:NWL) had its target price raised by Barclays from $6.00 to $7.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities research analysts have also recently weighed in on NWL. Raymond James cut Newell Brands from an outperform rating to a market perform rating in a report on Monday, February 12th. Wells Fargo & Company lifted their price target on Newell Brands from $7.00 to $8.00 and gave the company an equal weight rating in a research report on Monday. Royal Bank of Canada lowered their price objective on Newell Brands from $9.00 to $7.50 and set a sector perform rating for the company in a research report on Monday, February 12th. Canaccord Genuity Group upped their price target on Newell Brands from $9.00 to $10.00 and gave the stock a buy rating in a research note on Monday. Finally, UBS Group cut shares of Newell Brands from a buy rating to a neutral rating and decreased their price objective for the company from $10.00 to $8.50 in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Newell Brands has an average rating of Hold and a consensus price target of $8.61.

Newell Brands Price Performance

Shares of NWL stock traded up $0.02 on Tuesday, reaching $7.66. The company’s stock had a trading volume of 2,777,223 shares, compared to its average volume of 5,067,116. The company has a market capitalization of $3.18 billion, a P/E ratio of -10.65, a PEG ratio of 1.45 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. The stock’s 50 day simple moving average is $7.50 and its 200-day simple moving average is $7.76. Newell Brands has a 12-month low of $6.49 and a 12-month high of $11.61.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.64 billion. Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. Newell Brands’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. As a group, equities analysts predict that Newell Brands will post 0.6 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Wednesday, February 28th. Newell Brands’s dividend payout ratio is -38.89%.

Institutional Investors Weigh In On Newell Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in shares of Newell Brands by 106.2% in the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after buying an additional 2,437 shares in the last quarter. NBC Securities Inc. grew its stake in shares of Newell Brands by 50.5% during the first quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock worth $42,000 after acquiring an additional 1,780 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Newell Brands during the fourth quarter valued at about $45,000. Authentikos Wealth Advisory LLC purchased a new stake in Newell Brands during the 3rd quarter worth approximately $51,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Newell Brands during the fourth quarter worth $61,000. Institutional investors own 92.50% of the company’s stock.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.