Brokerages Set Newell Brands Inc. (NASDAQ:NWL) Price Target at $10.00

Newell Brands Inc. (NASDAQ:NWL) has been given a consensus recommendation of “Hold” by the eleven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $10.00.

Several analysts recently issued reports on NWL shares. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. Canaccord Genuity Group increased their price target on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $17.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price target on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th.

Newell Brands Price Performance

Shares of Newell Brands stock opened at $9.99 on Thursday. The stock has a market capitalization of $4.16 billion, a P/E ratio of -16.65, a PEG ratio of 1.02 and a beta of 0.90. The business has a 50 day simple moving average of $9.73 and a two-hundred day simple moving average of $8.07. Newell Brands has a 12 month low of $5.39 and a 12 month high of $11.78. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the company earned $0.39 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. As a group, analysts predict that Newell Brands will post 0.65 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.80%. Newell Brands’s dividend payout ratio (DPR) is currently -46.67%.

Insiders Place Their Bets

In related news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

Institutional Trading of Newell Brands

A number of institutional investors and hedge funds have recently bought and sold shares of NWL. Rothschild Investment LLC acquired a new position in shares of Newell Brands in the second quarter valued at approximately $26,000. Quarry LP boosted its position in Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after buying an additional 4,056 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Newell Brands in the third quarter worth $70,000. Atomi Financial Group Inc. purchased a new stake in shares of Newell Brands during the third quarter worth $79,000. Finally, Claro Advisors LLC acquired a new stake in shares of Newell Brands in the third quarter valued at $79,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

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.