Newell Brands (NASDAQ:NWL) Price Target Cut to $18.00

Newell Brands (NASDAQ:NWL – Get Rating) had its price target lowered by Raymond James from $20.00 to $18.00 in a report issued on Thursday, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Several other brokerages have also recently weighed in on NWL. StockNews.com started coverage on Newell Brands in a research report on Wednesday, October 12th. They issued a hold rating for the company. Morgan Stanley decreased their price target on Newell Brands from $18.50 to $17.00 and set an equal weight rating on the stock in a research report on Monday, October 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Newell Brands from $16.00 to $15.00 and set a hold rating for the company in a research report on Tuesday, December 6th. JPMorgan Chase & Co. increased their target price on shares of Newell Brands from $16.00 to $18.00 and gave the stock an overweight rating in a research note on Friday, January 13th. Finally, Truist Financial reduced their price target on shares of Newell Brands from $35.00 to $20.00 in a research report on Friday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Newell Brands currently has an average rating of Hold and a consensus price target of $18.11.

Newell Brands Price Performance

Shares of NASDAQ:NWL opened at $15.84 on Thursday. The company has a market capitalization of $6.55 billion, a P/E ratio of 11.91 and a beta of 0.82. The company’s 50-day moving average is $13.82 and its 200 day moving average is $15.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.64 and a current ratio of 1.25. Newell Brands has a fifty-two week low of $12.24 and a fifty-two week high of $26.45.

Newell Brands (NASDAQ:NWL – Get Rating) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.47 by $0.06. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.25 billion. Newell Brands had a return on equity of 20.03% and a net margin of 5.66%. Newell Brands’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, equities research analysts forecast that Newell Brands will post 1.58 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 5.81%. Newell Brands’s dividend payout ratio is currently 69.17%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. CX Institutional bought a new position in Newell Brands in the 2nd quarter worth $25,000. Fairfield Bush & CO. purchased a new stake in Newell Brands in the first quarter worth about $26,000. Triumph Capital Management bought a new stake in Newell Brands during the 2nd quarter valued at approximately $32,000. Private Trust Co. NA bought a new stake in Newell Brands during the 2nd quarter valued at approximately $33,000. Finally, Wipfli Financial Advisors LLC purchased a new position in shares of Newell Brands during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 92.31% of the company’s stock.