Newell Brands (NASDAQ:NWL) Lifted to Equal Weight at Barclays

Barclays upgraded shares of Newell Brands (NASDAQ:NWLFree Report) from an underweight rating to an equal weight rating in a research note published on Tuesday, Benzinga reports. They currently have $8.00 target price on the stock.

NWL has been the topic of several other research reports. Wells Fargo & Company increased their price objective on shares of Newell Brands from $7.00 to $8.00 and gave the stock an equal weight rating in a research note on Monday, April 29th. Citigroup increased their price target on shares of Newell Brands from $7.50 to $8.00 and gave the stock a neutral rating in a research report on Monday, April 29th. Royal Bank of Canada dropped their price target on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research note on Monday, February 12th. Canaccord Genuity Group upped their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a buy rating in a research note on Monday, April 29th. Finally, Raymond James downgraded Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Newell Brands currently has an average rating of Hold and an average price target of $8.70.

View Our Latest Report on Newell Brands

Newell Brands Trading Down 3.1 %

NASDAQ:NWL opened at $8.11 on Tuesday. 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 company has a 50 day simple moving average of $7.65 and a two-hundred day simple moving average of $7.84. Newell Brands has a 12 month low of $6.49 and a 12 month high of $11.61.

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

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, May 31st. Newell Brands’s dividend payout ratio (DPR) is -38.89%.

Institutional Investors Weigh In On Newell Brands

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Newell Brands by 481.6% in the third quarter. FMR LLC now owns 5,406,274 shares of the company’s stock worth $48,819,000 after buying an additional 4,476,644 shares in the last quarter. Norges Bank purchased a new stake in shares of Newell Brands during the 4th quarter worth approximately $32,781,000. Pzena Investment Management LLC boosted its position in shares of Newell Brands by 4.5% during the 3rd quarter. Pzena Investment Management LLC now owns 54,796,231 shares of the company’s stock valued at $494,810,000 after acquiring an additional 2,373,356 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Newell Brands by 35.1% in the fourth quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock valued at $73,884,000 after purchasing an additional 2,209,672 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Newell Brands by 368.3% in the third quarter. Principal Financial Group Inc. now owns 2,026,362 shares of the company’s stock valued at $18,298,000 after purchasing an additional 1,593,661 shares in the last quarter. 92.50% of the stock is owned by hedge funds and other institutional investors.

About Newell Brands

(Get Free Report)

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.

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Analyst Recommendations for Newell Brands (NASDAQ:NWL)

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