Newell Brands (NYSE:NWL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Newell has outperformed the industry in the past month, owing to the smooth execution of the company’s Transformation Plan. Recently, it accelerated the pace of the plan which is expected to create value and transform the company into a simpler, stronger and faster one to leverage its abilities with respect to innovation, design and e-commerce. Notably, its first-quarter 2018 earnings reflect second straight beat. Bottom-line results gained from cost savings, favorable pricing, contributions from acquisitions and a lower tax rate, offset by the lost earnings from divested operations, fall in core sales and commodity cost inflation. However, sales lagged estimates and declined year over year, while core sales fell due to decline in most of the company’s segments. Newell has also been witnessing weak gross and operating margins for the last few quarters now. Nevertheless, management reiterated its forecasts for 2018.”
NWL has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 price objective on shares of Newell Brands in a research report on Tuesday, February 20th. SunTrust Banks lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Jefferies Group reissued a “hold” rating and set a $32.00 target price on shares of Newell Brands in a research note on Thursday, January 25th. Morgan Stanley lowered shares of Newell Brands from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $38.00 to $25.00 in a research note on Thursday, January 25th. Finally, Barclays lowered shares of Newell Brands from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $35.00 to $26.00 in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Newell Brands presently has an average rating of “Hold” and a consensus target price of $33.06.
Shares of NYSE:NWL traded up $0.07 during trading on Tuesday, reaching $27.65. 1,490,099 shares of the company’s stock traded hands, compared to its average volume of 9,305,672. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. Newell Brands has a 12 month low of $23.85 and a 12 month high of $55.08. The company has a market cap of $13.42 billion, a PE ratio of 10.05, a P/E/G ratio of 1.60 and a beta of 0.80.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, May 4th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. Newell Brands had a net margin of 14.93% and a return on equity of 10.26%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. research analysts forecast that Newell Brands will post 2.7 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Gateway Investment Advisers LLC raised its holdings in shares of Newell Brands by 0.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 392,838 shares of the company’s stock valued at $12,139,000 after acquiring an additional 1,582 shares during the period. Condor Capital Management increased its stake in Newell Brands by 8.9% in the 4th quarter. Condor Capital Management now owns 23,380 shares of the company’s stock valued at $722,000 after buying an additional 1,904 shares during the period. Whittier Trust Co. increased its stake in Newell Brands by 25.3% in the 1st quarter. Whittier Trust Co. now owns 10,042 shares of the company’s stock valued at $256,000 after buying an additional 2,030 shares during the period. Buckingham Capital Management Inc. grew its position in Newell Brands by 7.5% in the third quarter. Buckingham Capital Management Inc. now owns 30,015 shares of the company’s stock worth $1,281,000 after acquiring an additional 2,085 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Newell Brands by 15.4% in the first quarter. Daiwa Securities Group Inc. now owns 16,078 shares of the company’s stock worth $410,000 after acquiring an additional 2,149 shares in the last quarter. 92.34% of the stock is owned by 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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