Newell Brands Inc. (NYSE:NWL) was upgraded by stock analysts at Raymond James Financial Inc. from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $57.00 price target on the stock. Raymond James Financial Inc.’s price objective suggests a potential upside of 17.62% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also weighed in on the company. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Monday, October 3rd. Royal Bank Of Canada restated a “top pick” rating and issued a $60.00 target price on shares of Newell Brands in a research note on Monday, October 31st. Jefferies Group restated a “top pick” rating and issued a $66.00 target price on shares of Newell Brands in a research note on Wednesday, September 14th. Bank of America Corp. set a $60.00 target price on Newell Brands and gave the company a “buy” rating in a research note on Tuesday, October 4th. Finally, RBC Capital Markets restated a “buy” rating on shares of Newell Brands in a research note on Monday, August 1st. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Newell Brands currently has a consensus rating of “Buy” and a consensus target price of $58.75.
Newell Brands (NYSE:NWL) opened at 48.46 on Tuesday. Newell Brands has a one year low of $33.26 and a one year high of $55.45. The stock has a 50 day moving average price of $49.63 and a 200-day moving average price of $50.22. The firm has a market cap of $23.38 billion, a P/E ratio of 47.23 and a beta of 1.03.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, October 28th. The company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. Newell Brands had a return on equity of 14.92% and a net margin of 3.51%. The company earned $3.95 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was up 158.5% compared to the same quarter last year. Analysts predict that Newell Brands will post $2.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, November 28th. Newell Brands’s dividend payout ratio (DPR) is currently 86.36%.
In related news, CEO Michael B. Polk bought 4,000 shares of Newell Brands stock in a transaction on Tuesday, November 1st. The shares were purchased at an average price of $47.82 per share, for a total transaction of $191,280.00. Following the completion of the acquisition, the chief executive officer now owns 338,169 shares in the company, valued at $16,171,241.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Mark Tarchetti bought 12,436 shares of Newell Brands stock in a transaction on Monday, October 31st. The shares were bought at an average price of $48.15 per share, for a total transaction of $598,793.40. Following the acquisition, the president now owns 188,995 shares of the company’s stock, valued at approximately $9,100,109.25. The disclosure for this purchase can be found here. Company insiders own 0.66% of the company’s stock.
A number of institutional investors have recently modified their holdings of NWL. Vanguard Group Inc. boosted its position in shares of Newell Brands by 82.8% in the second quarter. Vanguard Group Inc. now owns 41,447,370 shares of the company’s stock worth $2,013,099,000 after buying an additional 18,777,228 shares during the period. Capital International Investors boosted its position in shares of Newell Brands by 1.7% in the second quarter. Capital International Investors now owns 18,225,502 shares of the company’s stock worth $885,213,000 after buying an additional 307,407 shares during the period. State Street Corp boosted its position in shares of Newell Brands by 62.7% in the second quarter. State Street Corp now owns 17,186,871 shares of the company’s stock worth $834,765,000 after buying an additional 6,623,143 shares during the period. Capital World Investors boosted its position in shares of Newell Brands by 43.8% in the second quarter. Capital World Investors now owns 14,080,762 shares of the company’s stock worth $683,903,000 after buying an additional 4,285,762 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Newell Brands by 15.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,519,953 shares of the company’s stock worth $656,664,000 after buying an additional 1,762,871 shares during the period. Hedge funds and other institutional investors own 95.22% of the company’s stock.
Newell Brands Company Profile