Newell Brands (NASDAQ:NWL) Sets New 12-Month High Following Analyst Upgrade

Newell Brands Inc. (NASDAQ:NWL) reached a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group raised their price target on the stock from $12.00 to $13.00. Canaccord Genuity Group currently has a buy rating on the stock. Newell Brands traded as high as $9.28 and last traded at $9.28, with a volume of 934991 shares changing hands. The stock had previously closed at $8.73.

Several other equities analysts also recently issued reports on NWL. Royal Bank of Canada upped their target price on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Truist Financial increased their price target on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their price target on Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Citigroup downgraded Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Newell Brands has an average rating of “Hold” and a consensus price target of $8.90.

Institutional Investors Weigh In On Newell Brands

Several institutional investors have recently bought and sold shares of NWL. Rothschild Investment LLC acquired a new stake in Newell Brands in the 2nd quarter worth about $26,000. Gradient Investments LLC acquired a new stake in Newell Brands in the 2nd quarter worth about $46,000. Quarry LP boosted its holdings in Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after buying an additional 4,056 shares during the last quarter. Innealta Capital LLC acquired a new stake in Newell Brands in the 2nd quarter worth about $58,000. Finally, GAMMA Investing LLC boosted its holdings in Newell Brands by 40.4% in the 2nd quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $76,000 after buying an additional 3,412 shares during the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Trading Up 6.2 %

The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -13.01, a PEG ratio of 1.31 and a beta of 0.91. The company has a fifty day moving average of $7.44 and a 200-day moving average of $7.32.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. Newell Brands’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. As a group, equities research analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s dividend payout ratio is currently -38.89%.

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.