Newell Brands (NASDAQ:NWL) Shares Down 4.3% on Analyst Downgrade

by · The Cerbat Gem

Newell Brands Inc. (NASDAQ:NWL – Get Free Report) shares fell 4.3% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $7.75 to $4.75. Citigroup currently has a neutral rating on the stock. Newell Brands traded as low as $4.82 and last traded at $4.78. 1,037,097 shares changed hands during trading, a decline of 84% from the average session volume of 6,599,211 shares. The stock had previously closed at $4.99.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. cut their price objective on Newell Brands from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday. Royal Bank of Canada dropped their target price on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, February 10th. UBS Group boosted their price target on Newell Brands from $9.50 to $10.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Canaccord Genuity Group lowered their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on shares of Newell Brands from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.81.

Read Our Latest Stock Analysis on NWL

Institutional Trading of Newell Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in NWL. FMR LLC increased its position in shares of Newell Brands by 233.6% in the 4th quarter. FMR LLC now owns 14,527,609 shares of the company’s stock worth $144,695,000 after purchasing an additional 10,172,696 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in Newell Brands in the fourth quarter valued at about $72,431,000. Norges Bank bought a new stake in Newell Brands in the fourth quarter valued at about $37,174,000. Dimensional Fund Advisors LP lifted its holdings in Newell Brands by 21.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company’s stock worth $180,172,000 after buying an additional 3,188,718 shares during the last quarter. Finally, FIL Ltd grew its position in shares of Newell Brands by 109.2% in the 4th quarter. FIL Ltd now owns 5,720,884 shares of the company’s stock worth $56,980,000 after acquiring an additional 2,986,426 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Down 4.9 %

The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The firm has a market capitalization of $1.98 billion, a P/E ratio of -9.14, a P/E/G ratio of 0.95 and a beta of 0.84. The stock has a fifty day moving average price of $6.36 and a two-hundred day moving average price of $8.30.

Newell Brands (NASDAQ:NWL – Get Free Report) last released its earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same quarter last year, the business earned $0.22 earnings per share. Research analysts forecast that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.90%. The ex-dividend date was Friday, February 28th. Newell Brands’s dividend payout ratio (DPR) is presently -53.85%.

About Newell Brands

(Get Free Report)

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.

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