Wells Fargo & Company Forecasts Strong Price Appreciation for Newell Brands (NASDAQ:NWL) Stock

Newell Brands (NASDAQ:NWL) had its price objective raised by Wells Fargo & Company from $8.00 to $9.00 in a research note released on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Canaccord Genuity Group raised their target price on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial raised their target price on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada lifted their price target on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Newell Brands currently has a consensus rating of “Hold” and an average target price of $8.90.

Newell Brands Stock Performance

Shares of Newell Brands stock opened at $8.97 on Monday. The business’s fifty day simple moving average is $7.54 and its 200 day simple moving average is $7.35. The firm has a market capitalization of $3.73 billion, a P/E ratio of -14.95, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Newell Brands has a 12 month low of $5.39 and a 12 month high of $9.68. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last released its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts anticipate that Newell Brands will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s payout ratio is -46.67%.

Hedge Funds Weigh In On Newell Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC grew its holdings in shares of Newell Brands by 82.7% during the 3rd quarter. Innealta Capital LLC now owns 16,394 shares of the company’s stock worth $126,000 after acquiring an additional 7,422 shares during the period. Optas LLC purchased a new position in shares of Newell Brands during the 3rd quarter worth approximately $85,000. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of Newell Brands by 11.0% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 51,577 shares of the company’s stock worth $396,000 after acquiring an additional 5,101 shares during the period. Cornerstone Wealth Group LLC purchased a new position in shares of Newell Brands during the 3rd quarter worth approximately $143,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Newell Brands during the 3rd quarter worth approximately $196,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

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.