Newell Brands (NASDAQ:NWL) Shares Gap Up to $6.94

Newell Brands Inc. (NASDAQ:NWL)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $6.94, but opened at $7.59. Newell Brands shares last traded at $7.89, with a volume of 2,019,940 shares.

Analyst Ratings Changes

Several research firms recently commented on NWL. Raymond James lowered shares of Newell Brands from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Newell Brands from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Citigroup cut their price objective on Newell Brands from $9.00 to $7.50 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Morgan Stanley decreased their target price on Newell Brands from $8.50 to $7.75 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, Royal Bank of Canada dropped their target price on Newell Brands from $9.00 to $7.50 and set a “sector perform” rating on the stock in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.13.

Newell Brands Stock Performance

The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -8.28, a price-to-earnings-growth ratio of 1.39 and a beta of 0.95. The company has a current ratio of 1.16, a quick ratio of 0.63 and a debt-to-equity ratio of 1.47. The stock has a 50-day simple moving average of $7.48 and a 200-day simple moving average of $7.73.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. On average, analysts anticipate that Newell Brands Inc. will post 0.56 earnings per share for the current year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 3.59%. Newell Brands’s payout ratio is -29.47%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC lifted its position in shares of Newell Brands by 20.9% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 55,998 shares of the company’s stock worth $506,000 after buying an additional 9,662 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Newell Brands by 1,213.6% in the third quarter. Public Sector Pension Investment Board now owns 470,989 shares of the company’s stock worth $4,253,000 after acquiring an additional 435,133 shares during the last quarter. FMR LLC boosted its stake in Newell Brands by 481.6% in the third quarter. FMR LLC now owns 5,406,274 shares of the company’s stock valued at $48,819,000 after acquiring an additional 4,476,644 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Newell Brands by 20.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,059,578 shares of the company’s stock valued at $36,658,000 after purchasing an additional 679,318 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Newell Brands by 88,271.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 162,604 shares of the company’s stock valued at $1,411,000 after purchasing an additional 162,420 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

About Newell Brands

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.