Newell Brands (NASDAQ:NWL) Stock Gets Price Target Cut from Citigroup

Newell Brands (NASDAQ:NWL) had its target price reduced by Citigroup from $6.00 to $5.50 in a research report released on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Newell Brands from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Canaccord Genuity Group lifted their price objective on shares of Newell Brands from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Newell Brands in a research note on Monday, August 3rd. Barclays upped their price objective on shares of Newell Brands from $5.00 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Zacks Research raised shares of Newell Brands from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.62.

Newell Brands Stock Performance

Shares of NWL stock opened at $5.86 on Monday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 0.67. Newell Brands has a fifty-two week low of $3.08 and a fifty-two week high of $7.13. The stock’s 50-day moving average is $5.66 and its two-hundred day moving average is $4.86. The firm has a market cap of $2.50 billion, a P/E ratio of -7.61, a PEG ratio of 0.79 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.20 earnings per share (EPS) 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 analyst estimates of $1.86 billion. During the same period in the previous year, the company earned $0.17 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts predict that Newell Brands will post 0.76 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

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. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.28 dividend on an annualized basis and a yield of 4.8%. Newell Brands’s payout ratio is currently -36.36%.

Institutional Investors Weigh In On Newell Brands

A number of hedge funds have recently bought and sold shares of NWL. Fulcrum Asset Management LLP acquired a new stake in shares of Newell Brands during the 3rd quarter worth approximately $83,000. Uhlmann Price Securities LLC raised its stake in shares of Newell Brands by 2.2% in the third quarter. Uhlmann Price Securities LLC now owns 224,490 shares of the company’s stock valued at $1,185,000 after purchasing an additional 4,739 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Newell Brands by 13.4% in the third quarter. Pictet Asset Management Holding SA now owns 66,373 shares of the company’s stock valued at $350,000 after purchasing an additional 7,862 shares in the last quarter. Kestra Advisory Services LLC lifted its position in Newell Brands by 21.7% in the third quarter. Kestra Advisory Services LLC now owns 49,918 shares of the company’s stock worth $264,000 after purchasing an additional 8,896 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in Newell Brands by 3.9% in the third quarter. Commonwealth Equity Services LLC now owns 182,600 shares of the company’s stock worth $964,000 after purchasing an additional 6,866 shares during the period. 92.50% of the stock is currently owned by institutional investors.

About Newell Brands

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.