Brokerages Set Newell Brands Inc. (NASDAQ:NWL) Target Price at $8.82

Newell Brands Inc. (NASDAQ:NWL) has been given a consensus rating of “Hold” by the eleven analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.82.

Several equities research analysts have recently issued reports on NWL shares. Royal Bank of Canada lifted their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Canaccord Genuity Group raised their target price on Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Truist Financial increased their price target on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th.

Newell Brands Price Performance

Newell Brands stock opened at $7.09 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32. Newell Brands has a 52-week low of $5.39 and a 52-week high of $10.72. The firm has a market cap of $2.95 billion, a PE ratio of -9.85, a price-to-earnings-growth ratio of 1.24 and a beta of 0.88. The company’s 50 day moving average is $6.97 and its two-hundred day moving average is $7.36.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, July 26th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.21 by $0.15. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. Newell Brands’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. On average, research analysts expect that Newell Brands will post 0.65 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.95%. Newell Brands’s payout ratio is -38.89%.

Institutional Trading of Newell Brands

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP lifted its holdings in shares of Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after purchasing an additional 4,056 shares during the period. Millennium Management LLC raised its position in Newell Brands by 65.9% during the 2nd quarter. Millennium Management LLC now owns 924,973 shares of the company’s stock worth $5,929,000 after buying an additional 367,481 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in shares of Newell Brands by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock worth $65,558,000 after acquiring an additional 137,441 shares during the period. EVR Research LP boosted its holdings in shares of Newell Brands by 340.0% in the second quarter. EVR Research LP now owns 660,000 shares of the company’s stock valued at $4,231,000 after acquiring an additional 510,000 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Newell Brands by 106.7% during the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock worth $16,042,000 after acquiring an additional 1,314,514 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.

About Newell Brands

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.