Royal Bank of Canada Reiterates “Hold” Rating for Newell Brands (NYSE:NWL)

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Newell Brands (NYSE:NWL)‘s stock had its “hold” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They presently have a $16.00 price objective on the stock. Royal Bank of Canada’s price target indicates a potential downside of 2.44% from the stock’s previous close.

Several other brokerages have also recently weighed in on NWL. Deutsche Bank boosted their price objective on shares of Newell Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. Cfra reissued a “sell” rating and set a $10.00 target price (down previously from $21.00) on shares of Newell Brands in a research report on Friday, May 1st. Morgan Stanley boosted their price target on shares of Newell Brands from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on shares of Newell Brands from $13.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Zacks Investment Research raised shares of Newell Brands from a “sell” rating to a “hold” rating and set a $13.00 target price for the company in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.88.

Shares of NWL opened at $16.40 on Thursday. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 5.96, a PEG ratio of 3.82 and a beta of 0.90. Newell Brands has a 52 week low of $10.44 and a 52 week high of $20.99. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.53 and a current ratio of 2.98. The stock has a fifty day moving average of $15.98 and a 200-day moving average of $15.48.

Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.12. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts forecast that Newell Brands will post 1.22 EPS for the current year.

A number of institutional investors have recently modified their holdings of NWL. Comerica Bank boosted its holdings in Newell Brands by 3.3% in the second quarter. Comerica Bank now owns 117,934 shares of the company’s stock worth $1,972,000 after acquiring an additional 3,791 shares in the last quarter. Mackay Shields LLC lifted its holdings in shares of Newell Brands by 3.8% in the 2nd quarter. Mackay Shields LLC now owns 59,499 shares of the company’s stock worth $945,000 after purchasing an additional 2,152 shares in the last quarter. Lapides Asset Management LLC grew its position in Newell Brands by 113.7% in the 2nd quarter. Lapides Asset Management LLC now owns 120,500 shares of the company’s stock valued at $1,914,000 after purchasing an additional 64,100 shares during the period. Convergence Investment Partners LLC raised its holdings in Newell Brands by 45.6% during the second quarter. Convergence Investment Partners LLC now owns 44,506 shares of the company’s stock worth $707,000 after buying an additional 13,936 shares during the last quarter. Finally, Lathrop Investment Management Corp lifted its stake in shares of Newell Brands by 1.7% in the second quarter. Lathrop Investment Management Corp now owns 321,831 shares of the company’s stock valued at $5,111,000 after buying an additional 5,488 shares in the last quarter. 98.42% of the stock is owned by institutional investors and hedge funds.

Newell Brands Company Profile

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.

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Analyst Recommendations for Newell Brands (NYSE:NWL)

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