Newell Brands Inc. (NWL) Earns Buy Rating from Jefferies Group LLC

Newell Brands Inc. (NYSE:NWL)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued on Monday, August 7th, Marketbeat reports. They presently have a $65.00 price objective on the stock, down from their previous price objective of $66.00. Jefferies Group LLC’s price objective points to a potential upside of 30.89% from the stock’s previous close. Jefferies Group also issued estimates for Newell Brands’ Q3 2017 earnings at $1.01 EPS, Q4 2017 earnings at $0.94 EPS, FY2017 earnings at $3.16 EPS, FY2018 earnings at $3.71 EPS and FY2019 earnings at $4.32 EPS.

The analysts wrote, “NWL’s 2Q results were good (not great), but co. is broadly delivering against its plan with growth across geos (incl. 2% in US), enhanced scale in e-com, a war chest of cost synergies, and results poised to inflect in 2H (w/bigger innovation still to come in ’18). CEO Polk has charted a clear path fwd (w/strong track record of delivery) and NWL’s depressed multiple (12x ’19 P/E vs. 19x staples) creates an asymmetrical risk-reward. Remains a top pick – $65 PT. Mixed 2Q qtr impacted by tough retail env’t: The market was looking for 3% core sales growth in 2Q, so NWL’s +2.5% was a bit light, though would have been > 3% ex- retailer destocking in fishing/fresh preserving and a customer bankruptcy. Encouragingly, NWL’s growth was broad-based across its geos, the co. is gaining share (~60 bps YoY in the US), and results are poised to inflect in 2H (+3.5% vs. +2.5% in 2H) even ahead of any yield on the big investments on consumer insights (mid-2018).””

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets set a $51.00 target price on shares of Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, August 1st. BidaskClub lowered shares of Newell Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $60.00 price target on shares of Newell Brands in a research note on Thursday, June 8th. One research 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 company. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.07.

Newell Brands (NYSE:NWL) traded down 0.98% during trading on Monday, hitting $49.66. 2,958,457 shares of the stock traded hands. Newell Brands has a 12 month low of $43.43 and a 12 month high of $55.08. The firm has a market cap of $24.34 billion, a PE ratio of 19.83 and a beta of 1.17. The firm has a 50-day moving average price of $52.25 and a 200 day moving average price of $50.17.

Newell Brands (NYSE:NWL) last posted its earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. Newell Brands’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Newell Brands will post $3.12 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. raised its stake in Newell Brands by 10.4% in the first quarter. Whittier Trust Co. now owns 5,737 shares of the company’s stock worth $271,000 after buying an additional 540 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in Newell Brands by 8.0% in the first quarter. Glen Harbor Capital Management LLC now owns 51,952 shares of the company’s stock worth $2,450,000 after buying an additional 3,842 shares during the last quarter. Quantbot Technologies LP raised its stake in Newell Brands by 396.0% in the first quarter. Quantbot Technologies LP now owns 87,695 shares of the company’s stock worth $4,136,000 after buying an additional 70,014 shares during the last quarter. Viking Fund Management LLC raised its stake in Newell Brands by 39.1% in the first quarter. Viking Fund Management LLC now owns 16,000 shares of the company’s stock worth $755,000 after buying an additional 4,500 shares during the last quarter. Finally, King Luther Capital Management Corp raised its stake in Newell Brands by 3.8% in the first quarter. King Luther Capital Management Corp now owns 3,172,430 shares of the company’s stock worth $149,644,000 after buying an additional 114,855 shares during the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.

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.

Analyst Recommendations for Newell Brands (NYSE:NWL)

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