Newell Brands (NASDAQ:NWL) Stock Price Up 9.7% – What’s Next?

Newell Brands Inc. (NASDAQ:NWL)’s share price rose 9.7% during trading on Monday. The company traded as high as $5.65 and last traded at $5.6850. Approximately 1,902,778 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 7,565,093 shares. The stock had previously closed at $5.18.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Newell Brands from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Zacks Research raised shares of Newell Brands from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Royal Bank Of Canada raised their price objective on Newell Brands from $4.00 to $5.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of Newell Brands in a report on Monday, August 3rd. Finally, Citigroup upped their price objective on shares of Newell Brands from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.66.

Newell Brands Stock Up 12.3%

The business has a 50-day simple moving average of $5.68 and a 200-day simple moving average of $4.83. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -7.58, a price-to-earnings-growth ratio of 1.29 and a beta of 0.88. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.67 and a current ratio of 1.27.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. Newell Brands had a positive return on equity of 13.41% and a negative net margin of 4.42%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.17 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts anticipate that Newell Brands Inc. will post 0.76 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, August 31st. Newell Brands’s payout ratio is presently -52.83%.

Insider Activity at Newell Brands

In related news, insider Bradford Turner sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $6.16, for a total value of $616,000.00. Following the completion of the transaction, the insider owned 433,398 shares of the company’s stock, valued at approximately $2,669,731.68. The trade was a 18.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newell Brands

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Newell Brands during the second quarter worth about $436,133,000. Pzena Investment Management LLC bought a new position in Newell Brands in the second quarter worth about $294,663,000. Rubric Capital Management LP boosted its position in Newell Brands by 17.4% during the 1st quarter. Rubric Capital Management LP now owns 15,257,431 shares of the company’s stock valued at $52,333,000 after purchasing an additional 2,257,431 shares during the period. Primecap Management Co. CA acquired a new position in Newell Brands during the 2nd quarter valued at about $36,003,000. Finally, Bank of New York Mellon Corp acquired a new stake in Newell Brands in the 2nd quarter valued at approximately $15,135,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Company Profile

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer’s and Sistema.

The company’s products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.