Newell Brands (NASDAQ:NWL) Price Target Raised to $8.00 at Citigroup

Newell Brands (NASDAQ:NWL) had its price target increased by Citigroup from $7.50 to $8.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also commented on the company. Canaccord Genuity Group lifted their price target on Newell Brands from $9.00 to $10.00 and gave the stock a buy rating in a research report on Monday. Barclays boosted their target price on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. raised their price target on Newell Brands from $7.00 to $9.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. Morgan Stanley dropped their price objective on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating for the company in a research note on Monday, February 12th. Finally, Royal Bank of Canada reduced their target price on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $8.52.

Newell Brands Stock Up 3.3 %

Shares of NWL opened at $8.05 on Monday. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. Newell Brands has a 1 year low of $6.49 and a 1 year high of $12.02. The business’s 50 day simple moving average is $7.49 and its 200-day simple moving average is $7.75.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Newell Brands’s revenue was down 5.8% on a year-over-year basis. Equities research analysts anticipate that Newell Brands will post 0.56 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands’s dividend payout ratio is presently -38.89%.

Institutional Trading of Newell Brands

Several institutional investors and hedge funds have recently modified their holdings of NWL. Pzena Investment Management LLC grew its stake in Newell Brands by 4.5% in the third quarter. Pzena Investment Management LLC now owns 54,796,231 shares of the company’s stock worth $494,810,000 after purchasing an additional 2,373,356 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Newell Brands by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock worth $389,670,000 after buying an additional 739,295 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Newell Brands by 5.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,747,330 shares of the company’s stock worth $119,327,000 after buying an additional 660,347 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Newell Brands by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,623,470 shares of the company’s stock valued at $74,855,000 after buying an additional 434,762 shares during the period. Finally, Primecap Management Co. CA raised its holdings in shares of Newell Brands by 35.1% in the fourth quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock valued at $73,884,000 after acquiring an additional 2,209,672 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.