Newell Brands (NASDAQ:NWL) Shares Gap Up to $6.94

Newell Brands Inc. (NASDAQ:NWL)’s share price gapped up prior to trading on Friday . The stock had previously closed at $6.94, but opened at $7.59. Newell Brands shares last traded at $7.89, with a volume of 2,019,940 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank of Canada cut their price target on Newell Brands from $9.00 to $7.50 and set a “sector perform” rating for the company in a report on Monday, February 12th. Citigroup dropped their target price on Newell Brands from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Monday, February 12th. Barclays increased their target price on Newell Brands from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. UBS Group cut Newell Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $8.50 in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. increased their target price on Newell Brands from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Newell Brands presently has a consensus rating of “Hold” and a consensus price target of $9.13.

Newell Brands Price Performance

The stock has a fifty day moving average of $7.49 and a two-hundred day moving average of $7.74. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -8.20, a PEG ratio of 1.37 and a beta of 0.95. The company has a current ratio of 1.16, a quick ratio of 0.63 and a debt-to-equity ratio of 1.47.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the firm posted ($0.06) EPS. The business’s revenue was down 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Newell Brands Inc. will post 0.56 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 3.59%. Newell Brands’s payout ratio is -29.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC boosted its position in shares of Newell Brands by 20.9% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 55,998 shares of the company’s stock worth $506,000 after purchasing an additional 9,662 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Newell Brands by 1,213.6% during the third quarter. Public Sector Pension Investment Board now owns 470,989 shares of the company’s stock worth $4,253,000 after acquiring an additional 435,133 shares in the last quarter. FMR LLC lifted its holdings in Newell Brands by 481.6% during the third quarter. FMR LLC now owns 5,406,274 shares of the company’s stock worth $48,819,000 after acquiring an additional 4,476,644 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Newell Brands by 20.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,059,578 shares of the company’s stock worth $36,658,000 after acquiring an additional 679,318 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Newell Brands by 88,271.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 162,604 shares of the company’s stock worth $1,411,000 after acquiring an additional 162,420 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Company Profile

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.