Newell Brands (NASDAQ:NWL) had its price target raised by research analysts at JPMorgan Chase & Co. from $26.00 to $28.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 5.18% from the stock’s current price.
NWL has been the topic of several other reports. Truist raised their target price on shares of Newell Brands from $25.00 to $30.00 in a report on Tuesday, February 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Newell Brands from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, February 4th. Zacks Investment Research downgraded Newell Brands from a “strong-buy” rating to a “hold” rating and set a $28.00 target price for the company. in a research report on Monday, February 8th. Bank of America raised Newell Brands from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.00 to $27.00 in a report on Friday, January 8th. Finally, Morgan Stanley boosted their price target on Newell Brands from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.82.
NWL opened at $26.62 on Friday. Newell Brands has a fifty-two week low of $11.05 and a fifty-two week high of $27.43. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 1.51. The company has a market capitalization of $11.32 billion, a P/E ratio of -102.38, a P/E/G ratio of 5.05 and a beta of 1.06. The stock has a fifty day moving average of $25.73 and a 200-day moving average of $23.05.
Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Thursday, February 11th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Newell Brands had a negative net margin of 1.11% and a positive return on equity of 17.83%. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the firm earned $0.42 earnings per share. Newell Brands’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Newell Brands will post 1.71 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in NWL. CX Institutional grew its position in Newell Brands by 190.0% in the first quarter. CX Institutional now owns 1,279 shares of the company’s stock valued at $34,000 after acquiring an additional 838 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Newell Brands by 6.5% in the 1st quarter. DnB Asset Management AS now owns 55,129 shares of the company’s stock valued at $1,476,000 after purchasing an additional 3,382 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Newell Brands by 355.4% during the 1st quarter. AdvisorNet Financial Inc now owns 1,480 shares of the company’s stock valued at $40,000 after purchasing an additional 1,155 shares during the last quarter. FDx Advisors Inc. acquired a new position in Newell Brands during the 1st quarter worth approximately $227,000. Finally, Redpoint Investment Management Pty Ltd bought a new position in Newell Brands in the 1st quarter valued at approximately $408,000. Institutional investors and hedge funds own 86.50% of the company’s stock.
About Newell Brands
Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Appliances and Cookware; Commercial Solutions, Home Solutions; Learning and Development; and Outdoor and Recreation. The Appliances and Cookware segment designs, manufactures, sources, markets and distributes a diverse line of household products.
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