Newell Brands Inc. (NYSE:NWL) received a $61.00 target price from stock analysts at J P Morgan Chase & Co in a research note issued to investors on Monday, August 7th. The brokerage presently has a “buy” rating on the stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 22.84% from the company’s current price.
NWL has been the subject of several other reports. B. Riley reissued a “buy” rating and issued a $71.00 price objective on shares of Newell Brands in a research note on Friday, April 14th. Wells Fargo & Company downgraded Newell Brands from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research note on Monday, May 1st. BMO Capital Markets set a $51.00 price objective on Newell Brands and gave the stock a “hold” rating in a research note on Saturday, August 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of Newell Brands in a research note on Thursday, June 8th. Finally, BidaskClub raised Newell Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Newell Brands currently has an average rating of “Buy” and an average price target of $58.07.
Newell Brands (NYSE NWL) traded down 0.98% on Monday, hitting $49.66. 2,958,457 shares of the stock were exchanged. The company’s 50-day moving average is $52.25 and its 200-day moving average is $50.17. Newell Brands has a 52 week low of $43.43 and a 52 week high of $55.08. The company has a market cap of $24.34 billion, a PE ratio of 19.83 and a beta of 1.17.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. On average, analysts predict that Newell Brands will post $3.12 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. BDO Wealth Advisors LLC bought a new position in shares of Newell Brands during the second quarter worth $107,000. Harfst & Associates Inc. bought a new position in shares of Newell Brands during the first quarter worth $103,000. Israel Discount Bank of New York acquired a new stake in Newell Brands during the first quarter worth about $112,000. BB&T Investment Services Inc. acquired a new stake in Newell Brands during the second quarter worth about $143,000. Finally, Parallel Advisors LLC raised its stake in Newell Brands by 23.0% in the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after buying an additional 544 shares during the period. 94.87% of the stock is currently owned by institutional investors and hedge funds.
About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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