Wells Fargo & Company Cuts Newell Brands (NASDAQ:NWL) Price Target to $20.00

Newell Brands (NASDAQ:NWLGet Rating) had its target price reduced by Wells Fargo & Company from $21.00 to $20.00 in a research note published on Tuesday morning, Stock Target Advisor reports. They currently have an equal weight rating on the stock.

Several other analysts also recently issued reports on NWL. TheStreet raised Newell Brands from a c+ rating to a b rating in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Newell Brands from $25.00 to $22.00 in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on Newell Brands from $29.00 to $26.00 and set an overweight rating on the stock in a research note on Wednesday, March 30th. Finally, Raymond James decreased their target price on Newell Brands from $33.00 to $28.00 and set a strong-buy rating on the stock in a research note on Monday, April 18th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $24.60.

NWL stock opened at $19.46 on Tuesday. Newell Brands has a twelve month low of $17.40 and a twelve month high of $27.82. The company has a quick ratio of 0.66, a current ratio of 1.39 and a debt-to-equity ratio of 1.23. The stock has a market cap of $8.05 billion, a P/E ratio of 11.65 and a beta of 0.71. The business’s 50-day moving average price is $21.25 and its 200-day moving average price is $22.25.

Newell Brands (NASDAQ:NWLGet Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. Newell Brands had a return on equity of 19.95% and a net margin of 6.71%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Newell Brands will post 1.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.73%. The ex-dividend date was Friday, May 27th. Newell Brands’s dividend payout ratio is currently 55.09%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in Newell Brands during the 4th quarter valued at $25,000. Tcwp LLC purchased a new position in Newell Brands during the 1st quarter valued at $26,000. Fairfield Bush & CO. purchased a new position in Newell Brands during the 1st quarter valued at $26,000. Tyler Stone Wealth Management purchased a new position in Newell Brands during the 4th quarter valued at $30,000. Finally, AGF Investments LLC purchased a new position in Newell Brands during the 4th quarter valued at $34,000. 84.07% of the stock is currently owned by hedge funds and other institutional investors.

Newell Brands Company Profile (Get Rating)

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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