Newell Brands (NASDAQ:NWL) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Newell Brands (NASDAQ:NWL) had its price target lifted by Canaccord Genuity Group from $13.00 to $15.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Wells Fargo & Company upped their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Finally, Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.30.

Newell Brands Stock Performance

Shares of NWL stock opened at $10.31 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -17.18, a price-to-earnings-growth ratio of 0.93 and a beta of 0.90. The company’s 50-day moving average is $8.57 and its 200 day moving average is $7.64. Newell Brands has a one year low of $5.39 and a one year high of $10.44.

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 business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. Sell-side analysts expect that Newell Brands will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

Insiders Place Their Bets

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradford R. Turner sold 20,000 shares of the business’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 completion of the transaction, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NWL. Massachusetts Financial Services Co. MA increased its position in shares of 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 worth $127,629,000 after purchasing an additional 2,634,114 shares in the last quarter. Primecap Management Co. CA grew its holdings 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 worth $113,073,000 after purchasing an additional 674,015 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Newell Brands by 29.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after purchasing an additional 2,668,384 shares during the period. Deprince Race & Zollo Inc. grew its holdings in shares of Newell Brands by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock worth $65,558,000 after purchasing an additional 137,441 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Newell Brands by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock worth $50,973,000 after purchasing an additional 115,459 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.

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.