Jefferies Group LLC Downgrades Newell Brands Inc. (NWL) to Hold

Newell Brands Inc. (NYSE:NWL) was downgraded by research analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating in a report released on Monday. They presently have a $49.00 price objective on the stock, down from their previous price objective of $63.00. Jefferies Group LLC’s price objective points to a potential upside of 10.48% from the stock’s previous close. Jefferies Group also issued estimates for Newell Brands’ Q3 2017 earnings at $0.93 EPS, Q4 2017 earnings at $0.86 EPS, FY2017 earnings at $3.00 EPS, FY2018 earnings at $3.60 EPS, FY2018 earnings at $3.30 EPS and FY2019 earnings at $4.20 EPS.

Several other analysts have also weighed in on the company. Zacks Investment Research lowered Newell Brands from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub lowered Newell Brands from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 target price on shares of Newell Brands in a report on Tuesday, August 29th. Finally, BMO Capital Markets set a $51.00 target price on Newell Brands and gave the company a “hold” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $57.36.

Shares of Newell Brands (NWL) opened at 44.35 on Monday. The firm has a market cap of $21.74 billion, a PE ratio of 17.71 and a beta of 1.19. Newell Brands has a 1-year low of $42.88 and a 1-year high of $55.08. The company has a 50-day moving average of $49.68 and a 200-day moving average of $50.29.

Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. Newell Brands’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts predict that Newell Brands will post $3.01 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of NWL. BlackRock Inc. boosted its stake in shares of Newell Brands by 3,249.0% during the first quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock valued at $1,413,905,000 after acquiring an additional 29,079,686 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Newell Brands by 112.5% during the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after acquiring an additional 7,331,309 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Newell Brands during the second quarter valued at $124,839,000. Ameriprise Financial Inc. boosted its stake in shares of Newell Brands by 28.1% during the second quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock valued at $417,953,000 after acquiring an additional 1,709,917 shares during the last quarter. Finally, Sentry Investments Corp. boosted its stake in shares of Newell Brands by 75.7% during the first quarter. Sentry Investments Corp. now owns 3,712,271 shares of the company’s stock valued at $175,108,000 after acquiring an additional 1,599,100 shares during the last quarter. 92.43% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Company Profile

Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.

Analyst Recommendations for Newell Brands (NYSE:NWL)

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