Analysts Set Newell Brands Inc. (NASDAQ:NWL) Price Target at $8.90

Shares of Newell Brands Inc. (NASDAQ:NWL) have earned an average rating of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $8.90.

A number of research analysts recently weighed in on NWL shares. Deutsche Bank Aktiengesellschaft upped their price objective on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Truist Financial increased their target price on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, Canaccord Genuity Group lifted their price objective on shares of Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, October 28th.

Newell Brands Price Performance

NASDAQ NWL opened at $8.80 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $3.66 billion, a P/E ratio of -14.67, a PEG ratio of 0.84 and a beta of 0.89. The company has a 50-day moving average price of $7.94 and a 200-day moving average price of $7.51. Newell Brands has a 52 week low of $5.39 and a 52 week high of $9.68.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities research analysts anticipate that Newell Brands will post 0.65 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.18%. Newell Brands’s dividend payout ratio is presently -46.67%.

Insiders Place Their Bets

In other news, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the transaction, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Newell Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its holdings in Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after purchasing an additional 2,634,114 shares during the period. Primecap Management Co. CA raised its position in shares of Newell Brands by 4.8% during the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after purchasing an additional 674,015 shares during the period. Dimensional Fund Advisors LP raised its holdings in Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after acquiring an additional 2,668,384 shares during the period. Deprince Race & Zollo Inc. lifted its position in shares of Newell Brands by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock valued at $65,558,000 after acquiring an additional 137,441 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Newell Brands by 5,324.8% during the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after purchasing an additional 4,637,180 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Company Profile

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.