Newell Brands (NASDAQ:NWL) PT Raised to $9.50

Newell Brands (NASDAQ:NWL) had its price objective lifted by Royal Bank of Canada from $7.50 to $9.50 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other research firms have also recently commented on NWL. Wells Fargo & Company raised their price target on shares of Newell Brands from $6.00 to $9.00 and gave the stock an equal weight rating in a report on Monday. Canaccord Genuity Group boosted their target price on Newell Brands from $10.00 to $12.00 and gave the company a buy rating in a research report on Monday. Barclays raised Newell Brands from an underweight rating to an equal weight rating and set a $8.00 price target on the stock in a research note on Tuesday, May 14th. JPMorgan Chase & Co. reduced their price objective on Newell Brands from $8.00 to $7.00 and set a neutral rating for the company in a research note on Monday, July 22nd. Finally, Citigroup lowered their target price on Newell Brands from $8.00 to $6.25 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Newell Brands has a consensus rating of Hold and an average target price of $8.82.

Newell Brands Stock Down 1.6 %

Shares of NASDAQ:NWL opened at $8.59 on Monday. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.61. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The business’s 50-day moving average is $6.94 and its 200-day moving average is $7.48. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -11.93, a P/E/G ratio of 1.55 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.15. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Equities research analysts predict that Newell Brands will post 0.64 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Friday, May 31st. Newell Brands’s dividend payout ratio is -38.89%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NWL. Assenagon Asset Management S.A. purchased a new stake in Newell Brands in the 4th quarter valued at about $5,843,000. Bell Bank grew its holdings in shares of Newell Brands by 14.3% in the fourth quarter. Bell Bank now owns 599,803 shares of the company’s stock valued at $5,206,000 after acquiring an additional 75,113 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Newell Brands by 607.6% during the fourth quarter. International Assets Investment Management LLC now owns 19,340 shares of the company’s stock valued at $168,000 after acquiring an additional 16,607 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in Newell Brands during the fourth quarter worth $94,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Newell Brands by 88,271.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 162,604 shares of the company’s stock worth $1,411,000 after purchasing an additional 162,420 shares during the last quarter. 92.50% of the stock is owned by institutional investors.

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.