Canaccord Genuity Group Forecasts Strong Price Appreciation for Newell Brands (NASDAQ:NWL) Stock

Newell Brands (NASDAQ:NWL) had its price target lifted by Canaccord Genuity Group from $12.00 to $13.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company raised their price objective on Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. dropped their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Royal Bank of Canada increased their price objective on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. Truist Financial boosted their target price on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.90.

Newell Brands Trading Down 1.9 %

NWL opened at $8.80 on Monday. The firm’s fifty day simple moving average is $7.57 and its 200 day simple moving average is $7.36. The stock has a market capitalization of $3.66 billion, a P/E ratio of -14.67, a P/E/G ratio of 1.52 and a beta of 0.91. 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 has a 12 month low of $5.39 and a 12 month high of $9.68.

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

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a yield of 3.18%. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Hedge Funds Weigh In On Newell Brands

A number of large investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Newell Brands by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after acquiring an additional 82,337 shares in the last quarter. M&G PLC grew its position in shares of Newell Brands by 46.2% during the 3rd quarter. M&G PLC now owns 1,462,030 shares of the company’s stock worth $11,696,000 after purchasing an additional 462,030 shares in the last quarter. Innealta Capital LLC increased its holdings in shares of Newell Brands by 82.7% during the third quarter. Innealta Capital LLC now owns 16,394 shares of the company’s stock worth $126,000 after purchasing an additional 7,422 shares during the period. Optas LLC acquired a new stake in shares of Newell Brands in the third quarter valued at approximately $85,000. Finally, Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of Newell Brands by 11.0% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 51,577 shares of the company’s stock valued at $396,000 after buying an additional 5,101 shares during the period. Institutional investors own 92.50% of the company’s stock.

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.