Jefferies Financial Group restated their hold rating on shares of Newell Brands (NYSE:NWL) in a research report report published on Thursday. Jefferies Financial Group currently has a $15.00 price target on the stock.
“NWL announced that CEO, Mike Polk, will retire at the end of 2Q and that the co. will consider internal/external candidates to replace him. The news should not come as a big surprise given myriad issues (many self-inflicted, others external) that have plagued Mr. Polk’s tenure since the JAH deal. NWL’s CFO, C. Peterson, brings ops. exp. and is the likely front-runner to replace Mr. Polk, in our view. NWL may get sentiment lift, but turnaround will take time.”,” the firm’s analyst commented.
A number of other brokerages also recently commented on NWL. Zacks Investment Research downgraded shares of Newell Brands from a buy rating to a sell rating in a report on Thursday, February 21st. Barclays set a $16.00 price target on shares of Newell Brands and gave the company a hold rating in a report on Tuesday, February 19th. Wells Fargo & Co reaffirmed a buy rating and issued a $36.00 price target on shares of Newell Brands in a report on Thursday, December 20th. Citigroup set a $24.00 price target on shares of Newell Brands and gave the company a buy rating in a report on Wednesday, February 20th. Finally, Royal Bank of Canada lowered their price target on shares of Newell Brands from $24.00 to $20.00 and set a sector perform rating for the company in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $22.08.
Shares of Newell Brands stock opened at $15.45 on Thursday. Newell Brands has a one year low of $15.11 and a one year high of $29.23. The firm has a market capitalization of $6.71 billion, a P/E ratio of 5.62, a P/E/G ratio of 3.82 and a beta of 0.90. The company has a current ratio of 2.98, a quick ratio of 2.53 and a debt-to-equity ratio of 1.54.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, February 15th. The company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.30. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.43 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. As a group, analysts forecast that Newell Brands will post 1.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, February 27th. This represents a $0.92 annualized dividend and a yield of 5.96%. Newell Brands’s dividend payout ratio is presently 33.45%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Newell Brands by 250.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 34,049 shares of the company’s stock worth $691,000 after acquiring an additional 24,329 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Newell Brands by 38.6% in the 3rd quarter. Victory Capital Management Inc. now owns 375,783 shares of the company’s stock worth $7,628,000 after acquiring an additional 104,617 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Newell Brands by 19.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 125,800 shares of the company’s stock worth $2,554,000 after acquiring an additional 20,161 shares during the last quarter. Virginia Retirement Systems ET AL lifted its holdings in shares of Newell Brands by 153.9% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 52,300 shares of the company’s stock worth $1,062,000 after acquiring an additional 31,700 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Newell Brands by 74.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 152,055 shares of the company’s stock worth $3,087,000 after acquiring an additional 64,654 shares during the last quarter. 98.42% of the stock is owned by institutional investors.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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