JPMorgan Chase & Co. Has Lowered Expectations for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its price target cut by JPMorgan Chase & Co. from $8.00 to $6.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently commented on the company. Royal Bank of Canada dropped their price target on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, February 10th. Canaccord Genuity Group dropped their target price on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, February 10th. Citigroup decreased their price target on shares of Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Barclays boosted their price target on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company cut their price objective on shares of Newell Brands from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Newell Brands has a consensus rating of “Hold” and a consensus price target of $10.14.

Newell Brands Stock Up 3.7 %

Shares of NASDAQ NWL opened at $4.72 on Friday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -9.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.84. The company’s 50-day simple moving average is $6.45 and its 200-day simple moving average is $8.32. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. Newell Brands has a 52-week low of $4.22 and a 52-week high of $11.78.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same period last year, the firm posted $0.22 EPS. Equities analysts predict that Newell Brands will post 0.72 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.07 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.28 annualized dividend and a yield of 5.93%. Newell Brands’s payout ratio is -53.85%.

Institutional Trading of Newell Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in NWL. Castlekeep Investment Advisors LLC purchased a new position in Newell Brands during the fourth quarter worth about $33,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Newell Brands in the 4th quarter worth approximately $46,000. Smartleaf Asset Management LLC boosted its position in shares of Newell Brands by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after purchasing an additional 4,617 shares during the period. Versant Capital Management Inc increased its holdings in Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after purchasing an additional 1,666 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Newell Brands in the 4th quarter valued at approximately $101,000. Institutional investors and hedge funds 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.