Newell Brands (NASDAQ:NWL) Stock Rating Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Newell Brands (NASDAQ:NWL) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks reports.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of Newell Brands in a research note on Monday, August 3rd. Wall Street Zen raised shares of Newell Brands from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. UBS Group lifted their target price on shares of Newell Brands from $5.50 to $5.75 and gave the company a “neutral” rating in a research note on Monday. Weiss Ratings raised Newell Brands from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Canaccord Genuity Group boosted their target price on Newell Brands from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Newell Brands has an average rating of “Hold” and a consensus target price of $6.62.

Newell Brands Stock Up 4.1%

Shares of NASDAQ NWL opened at $5.86 on Tuesday. Newell Brands has a 52-week low of $3.08 and a 52-week high of $7.13. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.67 and a current ratio of 1.27. The business has a fifty day moving average of $5.66 and a two-hundred day moving average of $4.86. The stock has a market cap of $2.50 billion, a PE ratio of -7.61, a PEG ratio of 0.79 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. Newell Brands had a negative net margin of 4.42% and a positive return on equity of 13.41%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, equities research analysts expect that Newell Brands will post 0.76 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, November 30th. Newell Brands’s payout ratio is currently -36.36%.

Institutional Investors Weigh In On Newell Brands

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Newell Brands in the 2nd quarter worth approximately $436,133,000. Pzena Investment Management LLC acquired a new position in Newell Brands during the 2nd quarter worth $294,663,000. Rubric Capital Management LP lifted its holdings in Newell Brands by 17.4% during the 1st quarter. Rubric Capital Management LP now owns 15,257,431 shares of the company’s stock worth $52,333,000 after buying an additional 2,257,431 shares in the last quarter. Primecap Management Co. CA bought a new position in Newell Brands in the 2nd quarter valued at $36,003,000. Finally, Bank of New York Mellon Corp bought a new position in Newell Brands in the 2nd quarter valued at $15,135,000. Institutional investors own 92.50% of the company’s stock.

Newell Brands Company Profile

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer’s and Sistema.

The company’s products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.