Newell Brands (NASDAQ:NWL) Shares Gap Down – What’s Next?

Newell Brands Inc. (NASDAQ:NWL) shares gapped down before the market opened on Friday . The stock had previously closed at $9.69, but opened at $7.68. Newell Brands shares last traded at $7.01, with a volume of 8,874,074 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group raised their price target on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Barclays raised their target price on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Wells Fargo & Company lifted their price objective on Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Finally, Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.70.

Newell Brands Stock Performance

The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.89. The firm’s 50-day moving average price is $10.20 and its two-hundred day moving average price is $8.68. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. During the same period in the previous year, the firm earned $0.22 EPS. Sell-side analysts predict that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 4.06%. Newell Brands’s dividend payout ratio is presently -46.67%.

Insider Buying and Selling

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction on Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.

Institutional Trading of Newell Brands

Several institutional investors and hedge funds have recently made changes to their positions in NWL. Principal Financial Group Inc. increased its stake in shares of Newell Brands by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after buying an additional 82,337 shares during the period. Citigroup Inc. lifted its position in shares of Newell Brands by 7.7% in the 3rd quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock worth $9,476,000 after purchasing an additional 88,164 shares during the period. Versor Investments LP boosted its stake in shares of Newell Brands by 135.6% during the 3rd quarter. Versor Investments LP now owns 98,700 shares of the company’s stock valued at $758,000 after purchasing an additional 56,800 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Newell Brands during the fourth quarter valued at about $762,000. Finally, Wedmont Private Capital bought a new position in Newell Brands in the fourth quarter worth about $565,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

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.