Newell Brands Inc (NWL) Receives Average Rating of “Hold” from Brokerages
Newell Brands Inc (NYSE:NWL) has been given an average recommendation of “Hold” by the twenty-one research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.64.
Several brokerages recently weighed in on NWL. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a research note on Monday. Zacks Investment Research upgraded Newell Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Barclays set a $28.00 target price on Newell Brands and gave the company a “hold” rating in a research note on Thursday, March 15th. ValuEngine downgraded Newell Brands from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Vetr upgraded Newell Brands from a “buy” rating to a “strong-buy” rating and set a $29.00 target price for the company in a research note on Thursday, March 1st.
In other news, Director Michael Todman acquired 4,000 shares of Newell Brands stock in a transaction on Monday, May 21st. The stock was bought at an average price of $26.53 per share, for a total transaction of $106,120.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Craigie acquired 1,000 shares of Newell Brands stock in a transaction on Friday, May 18th. The stock was purchased at an average price of $26.67 per share, with a total value of $26,670.00. The disclosure for this purchase can be found here. 0.97% of the stock is currently owned by company insiders.
Shares of NYSE NWL traded down $0.34 during mid-day trading on Friday, reaching $26.05. 6,645,418 shares of the company traded hands, compared to its average volume of 8,861,004. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.20 and a current ratio of 1.72. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 9.47, a P/E/G ratio of 1.61 and a beta of 0.75. Newell Brands has a fifty-two week low of $22.60 and a fifty-two week high of $55.08.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, May 4th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.08. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.95 billion. Newell Brands had a return on equity of 10.05% and a net margin of 14.93%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. equities research analysts forecast that Newell Brands will post 2.66 earnings per share for the current year.
Newell Brands announced that its Board of Directors has approved a share buyback program on Monday, June 11th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to buy up to 19.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.53%. Newell Brands’s dividend payout ratio is currently 33.45%.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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