Wells Fargo & Company Issues Pessimistic Forecast for Newell Brands (NASDAQ:NWL) Stock Price

Newell Brands (NASDAQ:NWL) had its price objective cut by Wells Fargo & Company from $6.00 to $5.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also commented on NWL. UBS Group lowered their price objective on shares of Newell Brands from $8.00 to $5.50 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Citigroup decreased their price target on shares of Newell Brands from $7.75 to $4.75 and set a “neutral” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their price objective on Newell Brands from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Canaccord Genuity Group decreased their target price on Newell Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Barclays increased their price target on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.42.

Newell Brands Stock Performance

NASDAQ:NWL opened at $5.25 on Thursday. Newell Brands has a fifty-two week low of $4.22 and a fifty-two week high of $11.78. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The company has a 50 day moving average price of $5.73 and a 200 day moving average price of $8.05. The stock has a market capitalization of $2.19 billion, a P/E ratio of -10.10, a PEG ratio of 0.95 and a beta of 0.84.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.54 billion. The firm’s revenue was down 5.3% compared to the same quarter last year. Equities research analysts forecast that Newell Brands will post 0.72 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.07 per share. The ex-dividend date was Friday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 5.33%. Newell Brands’s dividend payout ratio is currently -53.85%.

Institutional Investors Weigh In On Newell Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in Newell Brands during the third quarter worth approximately $225,000. World Investment Advisors LLC purchased a new position in shares of Newell Brands in the 3rd quarter valued at $326,000. Principal Financial Group Inc. raised its stake in Newell Brands by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after acquiring an additional 82,337 shares in the last quarter. Versant Capital Management Inc lifted its position in Newell Brands by 24.8% in the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after acquiring an additional 1,666 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Newell Brands by 34.4% in the fourth quarter. GAMMA Investing LLC now owns 20,158 shares of the company’s stock valued at $201,000 after acquiring an additional 5,156 shares in the last quarter. Institutional investors and hedge funds 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.