Newell Brands (NASDAQ:NWL) Sets New 12-Month High Following Analyst Upgrade

Shares of Newell Brands Inc. (NASDAQ:NWL) reached a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $8.00 to $9.00. Wells Fargo & Company currently has an equal weight rating on the stock. Newell Brands traded as high as $9.28 and last traded at $9.28, with a volume of 934991 shares trading hands. The stock had previously closed at $8.73.

Several other equities analysts have also recently commented on the company. Truist Financial increased their target price on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group lifted their target price on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday. Citigroup cut shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised their target price on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their target price on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Newell Brands currently has a consensus rating of “Hold” and an average price target of $8.90.

Hedge Funds Weigh In On Newell Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWL. Centaurus Financial Inc. increased its stake in shares of Newell Brands by 5.9% in the second quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock worth $203,000 after acquiring an additional 1,762 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Newell Brands by 2.1% in the second quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after buying an additional 2,394 shares during the period. Tidal Investments LLC lifted its position in shares of Newell Brands by 3.0% in the 1st quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock worth $671,000 after acquiring an additional 2,407 shares during the period. Raymond James Trust N.A. boosted its stake in Newell Brands by 9.9% during the second quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock worth $177,000 after buying an additional 2,490 shares in the last quarter. Finally, Xcel Wealth Management LLC boosted its position in shares of Newell Brands by 8.3% during the 2nd quarter. Xcel Wealth Management LLC now owns 32,773 shares of the company’s stock valued at $210,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Newell Brands Stock Down 5.7 %

The business has a fifty day simple moving average of $7.51 and a two-hundred day simple moving average of $7.34. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -14.98, a P/E/G ratio of 1.52 and a beta of 0.91.

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

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.07 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.11%. Newell Brands’s dividend payout ratio is -46.67%.

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.