Wells Fargo & Company Raises Newell Brands (NASDAQ:NWL) Price Target to $9.00

Newell Brands (NASDAQ:NWL) had its price objective increased by Wells Fargo & Company from $6.00 to $9.00 in a report issued on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on NWL. JPMorgan Chase & Co. dropped their price target on Newell Brands from $8.00 to $7.00 and set a neutral rating for the company in a report on Monday, July 22nd. Barclays raised Newell Brands from an underweight rating to an equal weight rating and set a $8.00 price objective for the company in a report on Tuesday, May 14th. Canaccord Genuity Group lifted their price objective on Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a report on Monday, April 29th. Finally, Citigroup dropped their price objective on Newell Brands from $8.00 to $6.25 and set a neutral rating for the company in a report on Wednesday, July 10th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $8.82.

Newell Brands Price Performance

Newell Brands stock opened at $8.59 on Monday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -11.93, a PEG ratio of 1.55 and a beta of 0.89. The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32. Newell Brands has a 12 month low of $5.39 and a 12 month high of $11.61. The stock’s 50 day moving average is $6.94 and its 200-day moving average is $7.48.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.15. The business 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%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. Equities research analysts expect that Newell Brands will post 0.64 EPS for the current year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, May 31st. Newell Brands’s dividend payout ratio (DPR) is presently -38.89%.

Hedge Funds Weigh In On Newell Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC bought a new position in Newell Brands in the 2nd quarter valued at approximately $26,000. Quarry LP lifted 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 purchasing an additional 2,437 shares during the last quarter. NBC Securities Inc. lifted 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 purchasing an additional 1,780 shares during the last quarter. Quest Partners LLC bought a new position in Newell Brands in the 4th quarter valued at approximately $45,000. Finally, Gradient Investments LLC bought a new position in Newell Brands in the 2nd quarter valued at approximately $46,000. Institutional investors own 92.50% of the company’s stock.

Newell Brands Company Profile

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.