Newell Brands (NASDAQ:NWL) Shares Gap Up – Time to Buy?

Newell Brands Inc. (NASDAQ:NWLGet Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $8.82, but opened at $9.19. Newell Brands shares last traded at $9.07, with a volume of 615,571 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Truist Financial boosted their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $10.00 in a research report on Wednesday. Finally, Royal Bank of Canada increased their price target on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.10.

Read Our Latest Research Report on NWL

Newell Brands Price Performance

The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -14.90, a PEG ratio of 0.82 and a beta of 0.89. The stock has a 50-day moving average price of $8.08 and a 200 day moving average price of $7.54. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50.

Newell Brands (NASDAQ:NWLGet Free Report) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm earned $0.39 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that Newell Brands Inc. will post 0.66 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

Insider Activity

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its stake in shares of Newell Brands by 3.5% in the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock worth $304,000 after buying an additional 1,345 shares during the last quarter. Centaurus Financial Inc. raised its stake in Newell Brands by 5.9% during the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after acquiring an additional 1,762 shares in the last quarter. Arizona State Retirement System grew its position in Newell Brands by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after buying an additional 2,394 shares in the last quarter. Tidal Investments LLC lifted its position in Newell Brands by 3.0% in the first quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock worth $671,000 after purchasing an additional 2,407 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in Newell Brands by 9.9% in the 2nd quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock valued at $177,000 after acquiring an additional 2,490 shares during the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Company Profile

(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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