Newell Brands’ (NWL) Hold Rating Reaffirmed at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reaffirmed their hold rating on shares of Newell Brands Inc. (NYSE:NWL) in a report published on Tuesday. They currently have a $42.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Newell Brands’ Q4 2017 earnings at $0.87 EPS, FY2017 earnings at $2.95 EPS, FY2018 earnings at $3.25 EPS and FY2019 earnings at $3.60 EPS.
A number of other analysts have also commented on the stock. Jefferies Group LLC lowered shares of Newell Brands from a buy rating to a hold rating and reduced their price target for the stock from $63.00 to $49.00 in a research note on Monday, September 11th. Royal Bank Of Canada reiterated a top pick rating and issued a $60.00 price target on shares of Newell Brands in a research note on Tuesday, August 29th. Zacks Investment Research lowered shares of Newell Brands from a buy rating to a hold rating in a research note on Friday, July 28th. J P Morgan Chase & Co dropped their price objective on shares of Newell Brands from $58.00 to $56.00 and set an overweight rating on the stock in a report on Thursday, September 21st. Finally, BMO Capital Markets reissued a market perform rating and issued a $45.00 price objective (down previously from $51.00) on shares of Newell Brands in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $55.77.
Newell Brands (NWL) traded up 0.478% on Tuesday, reaching $40.975. 4,291,884 shares of the company’s stock were exchanged. Newell Brands has a 52-week low of $39.58 and a 52-week high of $55.08. The firm’s 50 day moving average price is $42.10 and its 200 day moving average price is $48.77. The company has a market cap of $20.08 billion, a PE ratio of 16.364 and a beta of 1.15.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that Newell Brands will post $3.00 earnings per share for the current year.
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Newell Brands declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Michael B. Polk purchased 5,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were acquired at an average price of $43.61 per share, with a total value of $218,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott S. Cowen purchased 2,000 shares of the stock in a transaction on Monday, September 11th. The shares were purchased at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders have acquired 7,100 shares of company stock worth $309,715 in the last ninety days. Insiders own 0.97% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Newell Brands by 2.8% during the second quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after purchasing an additional 1,305,820 shares in the last quarter. Capital World Investors lifted its holdings in Newell Brands by 2.0% during the second quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock valued at $1,672,723,000 after purchasing an additional 610,973 shares in the last quarter. BlackRock Inc. lifted its holdings in Newell Brands by 1.8% during the second quarter. BlackRock Inc. now owns 30,518,491 shares of the company’s stock valued at $1,636,402,000 after purchasing an additional 543,779 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Newell Brands by 112.5% during the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after purchasing an additional 7,331,309 shares in the last quarter. Finally, FMR LLC lifted its holdings in Newell Brands by 0.5% during the second quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after purchasing an additional 52,553 shares in the last quarter. 92.24% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Company Profile
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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