Newell Brands Inc. (NASDAQ:NWL) Receives $9.30 Consensus Price Target from Brokerages

Shares of Newell Brands Inc. (NASDAQ:NWL) have received a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.00.

A number of equities research analysts recently weighed in on NWL shares. Canaccord Genuity Group boosted their price target on shares of Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. cut their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. Wells Fargo & Company raised their target price on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Finally, Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $17.00 in a research report on Monday, December 9th.

Newell Brands Price Performance

Shares of NASDAQ NWL opened at $11.01 on Friday. The stock’s 50-day moving average is $8.96 and its two-hundred day moving average is $7.77. The company has a market cap of $4.58 billion, a price-to-earnings ratio of -18.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.90. Newell Brands has a 1-year low of $5.39 and a 1-year high of $11.78. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. Newell Brands’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. Analysts forecast that Newell Brands will post 0.66 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

Insider Transactions at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its holdings in Newell Brands by 3.5% in the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock valued at $304,000 after purchasing an additional 1,345 shares during the last quarter. Centaurus Financial Inc. grew its stake in Newell Brands by 5.9% in the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after acquiring an additional 1,762 shares during the last quarter. Arizona State Retirement System increased its holdings in Newell Brands by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after acquiring an additional 2,394 shares in the last quarter. Raymond James Trust N.A. raised its position in Newell Brands by 9.9% during the second quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock worth $177,000 after acquiring an additional 2,490 shares during the last quarter. Finally, Xcel Wealth Management LLC lifted its holdings in shares of Newell Brands by 8.3% in the second quarter. Xcel Wealth Management LLC now owns 32,773 shares of the company’s stock valued at $210,000 after purchasing an additional 2,500 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.

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.