Jefferies Financial Group Cuts Newell Brands (NWL) Price Target to $20.00

Newell Brands (NYSE:NWL) had its price target reduced by Jefferies Financial Group to $20.00 in a research report sent to investors on Monday, The Fly reports. They currently have a hold rating on the stock. Jefferies Financial Group also issued estimates for Newell Brands’ Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.24 EPS, FY2019 earnings at $1.33 EPS and FY2020 earnings at $2.19 EPS.

Several other research firms also recently issued reports on NWL. ValuEngine upgraded Newell Brands from a sell rating to a hold rating in a research note on Thursday, November 1st. BMO Capital Markets reduced their price target on Newell Brands from $25.00 to $20.00 and set a market perform rating for the company in a research note on Monday. Bank of America boosted their price target on Newell Brands from $28.00 to $30.00 and gave the company a neutral rating in a research note on Monday, July 16th. Citigroup reduced their price target on Newell Brands from $36.00 to $29.00 and set a buy rating for the company in a research note on Wednesday, August 8th. Finally, Wells Fargo & Co restated a buy rating on shares of Newell Brands in a research note on Friday, November 2nd. Thirteen equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Newell Brands presently has an average rating of Hold and a consensus price target of $26.60.

Shares of NYSE NWL traded down $0.06 during midday trading on Monday, hitting $20.11. 91,606 shares of the company’s stock were exchanged, compared to its average volume of 11,797,883. The company has a current ratio of 2.87, a quick ratio of 2.44 and a debt-to-equity ratio of 1.49. Newell Brands has a 12 month low of $15.11 and a 12 month high of $32.58. The company has a market capitalization of $9.43 billion, a P/E ratio of 7.34, a P/E/G ratio of 3.59 and a beta of 0.82.

Newell Brands (NYSE:NWL) last issued its earnings results on Friday, November 2nd. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.55. Newell Brands had a positive return on equity of 9.51% and a negative net margin of 46.92%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts predict that Newell Brands will post 1.14 EPS for the current fiscal year.

In related news, CEO Michael B. Polk acquired 10,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was purchased at an average cost of $20.63 per share, with a total value of $206,300.00. Following the acquisition, the chief executive officer now directly owns 941,951 shares of the company’s stock, valued at $19,432,449.13. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wetherby Asset Management Inc. raised its holdings in Newell Brands by 20.3% in the 2nd quarter. Wetherby Asset Management Inc. now owns 11,486 shares of the company’s stock valued at $296,000 after acquiring an additional 1,941 shares in the last quarter. Berson & Corrado Investment Advisors LLC raised its holdings in Newell Brands by 16.9% in the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 15,565 shares of the company’s stock valued at $401,000 after acquiring an additional 2,246 shares in the last quarter. LS Investment Advisors LLC raised its holdings in Newell Brands by 9.4% in the 2nd quarter. LS Investment Advisors LLC now owns 27,528 shares of the company’s stock valued at $710,000 after acquiring an additional 2,355 shares in the last quarter. Bank of The West raised its holdings in Newell Brands by 28.0% in the 2nd quarter. Bank of The West now owns 11,257 shares of the company’s stock valued at $290,000 after acquiring an additional 2,461 shares in the last quarter. Finally, Bank of Hawaii raised its holdings in Newell Brands by 24.5% in the 2nd quarter. Bank of Hawaii now owns 12,940 shares of the company’s stock valued at $334,000 after acquiring an additional 2,550 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

About Newell Brands

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.

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