Wells Fargo & Co Raises Newell Brands (NWL) Price Target to $22.00

Newell Brands (NYSE:NWL) had its target price increased by Wells Fargo & Co from $21.00 to $22.00 in a research report released on Thursday morning. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on NWL. Zacks Investment Research raised shares of Newell Brands from a hold rating to a buy rating and set a $21.00 price objective for the company in a research note on Monday, January 7th. Jefferies Financial Group reduced their price objective on shares of Newell Brands to $15.00 and set a hold rating for the company in a research note on Tuesday, February 19th. Citigroup set a $24.00 price objective on shares of Newell Brands and gave the stock a buy rating in a research note on Wednesday, February 20th. Barclays set a $16.00 target price on shares of Newell Brands and gave the company a hold rating in a research note on Tuesday, February 19th. Finally, Royal Bank of Canada cut their target price on shares of Newell Brands from $24.00 to $20.00 and set a sector perform rating for the company in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Newell Brands has a consensus rating of Hold and a consensus target price of $22.08.

Shares of NYSE NWL opened at $15.56 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53. The firm has a market capitalization of $6.58 billion, a PE ratio of 5.66, a PEG ratio of 3.82 and a beta of 0.90. Newell Brands has a 1 year low of $15.11 and a 1 year high of $29.23.

Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, February 15th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.30. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. As a group, research analysts predict that Newell Brands will post 1.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.92 annualized dividend and a yield of 5.91%. Newell Brands’s payout ratio is 33.45%.

Several large investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Newell Brands by 8.4% in the 4th quarter. BlackRock Inc. now owns 44,659,043 shares of the company’s stock worth $830,211,000 after buying an additional 3,470,954 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Newell Brands by 9.4% in the 4th quarter. Pzena Investment Management LLC now owns 18,304,339 shares of the company’s stock worth $340,278,000 after buying an additional 1,577,306 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Newell Brands by 15.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 14,040,672 shares of the company’s stock worth $285,027,000 after buying an additional 1,906,362 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Newell Brands by 4,814.0% in the 3rd quarter. Franklin Resources Inc. now owns 11,308,700 shares of the company’s stock worth $229,568,000 after buying an additional 11,078,567 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Newell Brands by 7.2% in the 3rd quarter. FMR LLC now owns 7,543,540 shares of the company’s stock worth $153,134,000 after buying an additional 507,125 shares in the last quarter. 98.42% of the stock is owned by institutional investors and hedge funds.

Newell Brands Company Profile

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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Analyst Recommendations for Newell Brands (NYSE:NWL)

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