Brokerages Set Newell Brands Inc. (NASDAQ:NWL) Price Target at $10.00

Shares of Newell Brands Inc. (NASDAQ:NWL) have received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $10.00.

Several research firms recently commented on NWL. Canaccord Genuity Group raised their target price on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company raised their target price on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. JPMorgan Chase & Co. cut their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. Finally, Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th.

Insider Activity

In related news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares in the company, valued at $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC bought a new stake in shares of Newell Brands during the second quarter worth $26,000. Quarry LP raised its stake in shares of Newell Brands by 104.4% during the second 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. Versant Capital Management Inc lifted its stake in shares of Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after purchasing an additional 1,666 shares during the period. Venturi Wealth Management LLC bought a new position in Newell Brands during the third quarter worth about $70,000. Finally, Claro Advisors LLC acquired a new position in Newell Brands during the third quarter valued at approximately $79,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Stock Performance

NWL stock opened at $10.17 on Thursday. The stock’s 50 day simple moving average is $9.74 and its 200 day simple moving average is $8.10. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. Newell Brands has a 12-month low of $5.39 and a 12-month high of $11.78. The firm has a market cap of $4.23 billion, a P/E ratio of -16.95, a P/E/G ratio of 1.02 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, equities research analysts predict that Newell Brands will post 0.65 EPS for the current year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, November 29th. Newell Brands’s dividend payout ratio is currently -46.67%.

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.