Newell Brands (NASDAQ:NWL) Share Price Breaks Above 50 Day Moving Average After Analyst Downgrade
by Amy Steele · The Cerbat GemNewell Brands Inc. (NASDAQ:NWL – Get Free Report) shares passed above its 50 day moving average during trading on Monday after UBS Group raised their price target on the stock from $5.50 to $5.75. The stock has a 50 day moving average of $5.67 and traded as high as $6.05. UBS Group currently has a neutral rating on the stock. Newell Brands shares last traded at $5.96, with a volume of 16,043,838 shares traded.
NWL has been the topic of several other reports. Citigroup cut their price target on shares of Newell Brands from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday. Weiss Ratings lowered Newell Brands from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, October 8th. Barclays raised their price objective on Newell Brands from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Canaccord Genuity Group boosted their target price on Newell Brands from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of Newell Brands in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.62.
Read Our Latest Analysis on Newell Brands
Insider Transactions at Newell Brands
In other Newell Brands news, insider Bradford Turner sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $6.16, for a total value of $616,000.00. Following the completion of the sale, the insider directly owned 433,398 shares of the company’s stock, valued at $2,669,731.68. This trade represents a 18.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.64% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Newell Brands
Several hedge funds and other institutional investors have recently bought and sold shares of NWL. BlackRock Inc. purchased a new stake in shares of Newell Brands in the 2nd quarter valued at approximately $436,133,000. Pzena Investment Management LLC purchased a new stake in shares of Newell Brands during the 2nd quarter valued at approximately $294,663,000. Rubric Capital Management LP lifted its holdings in Newell Brands by 17.4% in the first quarter. Rubric Capital Management LP now owns 15,257,431 shares of the company’s stock valued at $52,333,000 after acquiring an additional 2,257,431 shares during the last quarter. Primecap Management Co. CA acquired a new position in Newell Brands in the second quarter valued at approximately $36,003,000. Finally, Bank of New York Mellon Corp acquired a new position in Newell Brands in the second quarter valued at approximately $15,135,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Stock Up 15.1%
The company has a market capitalization of $2.54 billion, a PE ratio of -7.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.88. The company has a quick ratio of 0.59, a current ratio of 1.11 and a debt-to-equity ratio of 1.85. The firm has a 50-day moving average of $5.67 and a two-hundred day moving average of $4.84.
Newell Brands (NASDAQ:NWL – Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Newell Brands had a positive return on equity of 12.31% and a negative net margin of 3.05%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. Equities research analysts predict that Newell Brands Inc. will post 0.76 earnings per share for the current fiscal year.
Newell Brands Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.07 per share. The ex-dividend date was Monday, August 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.7%. Newell Brands’s dividend payout ratio (DPR) is currently -36.36%.
Newell Brands Company Profile
Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer’s and Sistema.
The company’s products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.
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