Newell Brands Inc. (NASDAQ:NWL) Short Interest Update

by · The Cerbat Gem

Newell Brands Inc. (NASDAQ:NWL – Get Free Report) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 11,920,000 shares, a drop of 50.8% from the September 15th total of 24,240,000 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily volume of 6,740,000 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

NWL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their target price on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their target price 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. Truist Financial lifted their target price on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Newell Brands presently has an average rating of “Hold” and an average target price of $8.91.

Read Our Latest Research Report on Newell Brands

Hedge Funds Weigh In On Newell Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC bought a new stake in Newell Brands in the 2nd quarter valued at about $26,000. Quarry LP raised its stake in Newell Brands by 106.2% in the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after acquiring an additional 2,437 shares during the period. NBC Securities Inc. raised its stake in Newell Brands by 50.5% in the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after acquiring an additional 1,780 shares during the period. Gradient Investments LLC bought a new stake in Newell Brands in the 2nd quarter valued at about $46,000. Finally, Innealta Capital LLC bought a new stake in shares of Newell Brands during the second quarter valued at about $58,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Newell Brands Stock Up 1.2 %

NWL stock traded up $0.09 during midday trading on Friday, reaching $7.60. 3,081,868 shares of the company’s stock traded hands, compared to its average volume of 5,370,019. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -11.58, a P/E/G ratio of 1.29 and a beta of 0.91. The firm’s fifty day moving average price is $7.37 and its 200-day moving average price is $7.32. Newell Brands has a 52 week low of $5.39 and a 52 week high of $9.24.

Newell Brands (NASDAQ:NWL – Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.15. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. As a group, sell-side analysts forecast that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Friday, August 30th. Newell Brands’s dividend payout ratio (DPR) is currently -43.08%.

Newell Brands Company Profile

(Get Free Report)

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.

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