Newell Brands (NASDAQ:NWL – Free Report) had its price target decreased by Citigroup from $9.00 to $7.50 in a research note released on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.
NWL has been the topic of a number of other reports. Truist Financial downgraded shares of Newell Brands from a buy rating to a hold rating and reduced their price target for the stock from $20.00 to $8.00 in a research report on Monday, October 30th. Barclays lifted their price objective on shares of Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research report on Tuesday, January 16th. TheStreet downgraded shares of Newell Brands from a c- rating to a d rating in a research report on Friday, October 27th. UBS Group lifted their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada cut their price objective on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $9.28.
Newell Brands Price Performance
Newell Brands (NASDAQ:NWL – Get Free Report) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the firm posted $0.16 EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, research analysts forecast that Newell Brands will post 0.57 earnings per share for the current year.
Hedge Funds Weigh In On Newell Brands
Several large investors have recently bought and sold shares of NWL. FMR LLC increased its stake in Newell Brands by 481.6% during the 3rd quarter. FMR LLC now owns 5,406,274 shares of the company’s stock valued at $48,819,000 after buying an additional 4,476,644 shares during the period. Norges Bank acquired a new position in Newell Brands during the 4th quarter valued at about $32,781,000. Nuveen Asset Management LLC increased its stake in Newell Brands by 39.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 11,259,689 shares of the company’s stock valued at $97,959,000 after buying an additional 3,168,690 shares during the period. State Street Corp grew its stake in shares of Newell Brands by 12.2% in the 1st quarter. State Street Corp now owns 25,151,594 shares of the company’s stock worth $312,886,000 after purchasing an additional 2,732,905 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Newell Brands by 258.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,637,192 shares of the company’s stock worth $32,844,000 after purchasing an additional 2,623,088 shares during the last quarter. Institutional investors and hedge funds own 91.53% 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 five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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